Pprint(str(v) + ' = ' + padspace(latex(q))) # create insertable LaTeX block for Web page Here are the equations for all the directly computable forms this problem can take, including the variations created by choosing payment-at-beginning and payment-at-end. Result: in 10 years (120 months) you will have a balance of \$23,003.87 ( click here to test this result with the calculator above). ![]() For the interest rate per period (per month in this case), divide the annual interest rate of 12% by 12 = 1% per month ( is this correct?). The account has a starting balance of \$0.00 and you are planning to deposit \$100 per month. Let's say you want to know how much money you will have in an investment that has an annual interest rate of 12%. ![]() These equations are similar to those used to calculate Population Increase, but they allow you to specify interest and payments as separate variables. $ir$ (interest rate) = The per-period interest rate on the account. $pmt$ (payment) = The amount of each periodic payment, usually a negative amount. $np$ (number of periods) = The number of payment periods, usually expressed in months. $fv$ (future value) = The ending balance after the specified number of payment periods ($np$). This number can be zero, positive (when you take out a loan), or negative (when you make a deposit). ![]() $pv$ (present value) = The starting balance in an account. The exception, as Isaac Newton discovered, is that interest computation requires iteration and may result in several solutions. With one exception, each kind of problem can be solved immediately, using a well-defined equation. These equations solve problems that involve compound interest.
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