The FV of an Annuity= [(1 + r)^n - 1] / r. So (1.015)^120 = 5.96932 - 1 = 4.96932 / .015 = 331.2882 x 2,500 = 828,220.
The FV of $1 = (1 + r)^n. So (1.015)^120 = 5.969 x 30,000 = 179,080.
Total FV 1,007,300
so tha bank saving account says this, can someone explain it please
"Interest is computed daily and added at the end of the month as follows"
interest rate 1.5%
so how to calculate that yearly? lets say I put 30,000 depost and on monthly bases I add another 2500 to the account
can someone please calculate how much that would be in 10 years? and how to calc it
