I need a forumula

Eri — 6/14/2008 5:09:23 PM (archived)

Microsoft is useless for this (if what I need is on there, I can't find it).

Let's say I have X dollars ($100,000 is a nice round sum to use) at this time. It is drawing 5% interest. I want to know how much I should use monthly and have the balance be $0 at the end of 10 years.

Thanks!

The whole thread (21 posts)

I need a forumula - Eri - 6/14/2008 5:09:23 PM
- Use Excell - nick hoffman - 6/18/2008 1:12:24 PM
  - re: Use Excell - Eri - 6/19/2008 12:32:47 AM
- Google "annuities". There's a thousand formulae. (n/t) - Bowser - 6/17/2008 1:10:01 AM
- How is the interest compounded? (n/t) - RobVg - 6/16/2008 5:04:12 AM
  - very carefully - alcaray - 6/17/2008 8:48:52 AM
    - Boy, 'that' was helpful... - RobVG - 6/18/2008 1:18:34 AM
      - An homage to the recently departed Dick Martin. (n/t) - alcaray - 6/18/2008 5:08:53 PM
      - Oh, SNAP! (n/t) - Yeti - 6/18/2008 3:41:45 AM
  - Daily (n/t) - Eri - 6/16/2008 5:20:48 PM
    - No kidding? - RobVG - 6/17/2008 5:09:47 AM
      - I checked today and it is definitely compounded daily (n/t) - Eri - 6/19/2008 12:34:05 AM
        
        Got started, might be awhile. (n/t) - RobVG - 6/19/2008 3:23:02 AM
        
        Thank you! (n/t) - Eri - 6/19/2008 4:46:56 PM
      - I can verify it tomorrow. (n/t) - Eri - 6/18/2008 2:32:38 AM
- $1055 per month. Here's a link to a calculator. - Bowser - 6/14/2008 5:41:37 PM
  - That's a cool site but it still doesn't have what I mentioned above. (n/t) - Eri - 6/14/2008 7:57:38 PM
    - With estimating it takes no time to do it. - Bowser - 6/14/2008 8:19:02 PM
      - re: With estimating it takes no time to do it. - Eri - 6/15/2008 5:22:40 AM
        
        Oh my! - Bowser - 6/15/2008 9:29:05 PM
  - Useful calculator - Eri - 6/14/2008 7:44:08 PM

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The whole thread (21 posts)