Two Simple Compouding Interest Problems

I will answer the first question



\(\displaystyle i = 4\%/12 = 0.0033333333333333\)

N = 1 to 12


\(\displaystyle FV_N = 500 \times (1+i)^{n} + 1,000 \times (1+i) \times \frac{(1+i)^{n} - 1}{i}\)


Code: 
N    FVIF    FVIFAD    FV of $500    FVAD of $1000    FV_N
0                    
1    1.0033    1.0033     $501.67      $1,003.33      $1,505.00 
2    1.0067    2.0100     $503.34      $2,010.01      $2,513.35 
3    1.0100    3.0200     $505.02      $3,020.04      $3,525.06 
4    1.0134    4.0334     $506.70      $4,033.44      $4,540.14 
5    1.0168    5.0502     $508.39      $5,050.22      $5,558.61 
6    1.0202    6.0704     $510.08      $6,070.39      $6,580.47 
7    1.0236    7.0940     $511.78      $7,093.96      $7,605.74 
8    1.0270    8.1209     $513.49      $8,120.94      $8,634.43 
9    1.0304    9.1513     $515.20      $9,151.34      $9,666.54 
10    1.0338    10.1852     $516.92      $10,185.18      $10,702.10 
11    1.0373    11.2225     $518.64      $11,222.46      $11,741.10 
12    1.0407    12.2632     $520.37      $12,263.20      $12,783.58
 
What I posted last were future values of money amounts at the end of each month

For monthly balances, Sir Wilmer would display his bank statement as follows


Code: 
N    Deposits    Interest    Balance
0     $1,500      $-        $1,500.00 
1     $1,000      $5.00      $2,505.00 
2     $1,000      $8.35      $3,513.35 
3     $1,000      $11.71      $4,525.06 
4     $1,000      $15.08      $5,540.14 
5     $1,000      $18.47      $6,558.61 
6     $1,000      $21.86      $7,580.47 
7     $1,000      $25.27      $8,605.74 
8     $1,000      $28.69      $9,634.43 
9     $1,000      $32.11      $10,666.54 
10     $1,000      $35.56      $11,702.10 
11     $1,000      $39.01      $12,741.10 
12         $42.47      $12,783.58

I am sure when Sir Wilmer awakes, he will fix my schedule that shows the extra $1000 in each months ending balance
 
Last edited:
DexterOnline said:
I am sure when Sir Wilmer awakes, he will fix my schedule that shows the extra $1000 in each months ending balance
Click to expand...

Last time as a punishment for displaying in-significant digit I had to stand alone in a cold and dark corner

Let's see what punishment is handed down today by Sir Wilmer for giving away $1000 extra to savings account holder
 
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