Hi.
The main issue is that when I use certain CI calculators,
I get answers that I am not sure are correct.
Answers ranging in the billions (which seems excessive to me).
So, I would like your help verifying
whether or not those calculator answers are
correct and why/why not.
I'll include 3 examples:
2 calculators that give an answer of billions for my calculation and a third calculator
that gives an answer in the modest millions -- the one that seems correct to me.
The same input values are used throughout.
1. Compounder App (billions):
2. thecalculatorsite.com (billions):
Here are the rest of the inputs that got cropped out:
Deposits made from: beginning
Compound interval: monthly
The owner of this calculator doesn't seem to think anything is wrong,
and I showed him the below Ramsey Solutions calculator:
3. ramseysolutions.com (millions)
He responded: "I've just put the figures ... and it returns the same result as the Ramsey Solutions one (7,271,843.85) ... I think the issue you may be seeing may be because of the 'compound interval' option (which appears next to the 'Calculate' button on my calculator."
The issue is, he and I are using the same compound interval of 12 months... So I don't see why there would be a difference.
Any and all help will be appreciated, thanks.
The main issue is that when I use certain CI calculators,
I get answers that I am not sure are correct.
Answers ranging in the billions (which seems excessive to me).
So, I would like your help verifying
whether or not those calculator answers are
correct and why/why not.
I'll include 3 examples:
2 calculators that give an answer of billions for my calculation and a third calculator
that gives an answer in the modest millions -- the one that seems correct to me.
The same input values are used throughout.
1. Compounder App (billions):
2. thecalculatorsite.com (billions):
Here are the rest of the inputs that got cropped out:
Deposits made from: beginning
Compound interval: monthly
The owner of this calculator doesn't seem to think anything is wrong,
and I showed him the below Ramsey Solutions calculator:
3. ramseysolutions.com (millions)
He responded: "I've just put the figures ... and it returns the same result as the Ramsey Solutions one (7,271,843.85) ... I think the issue you may be seeing may be because of the 'compound interval' option (which appears next to the 'Calculate' button on my calculator."
The issue is, he and I are using the same compound interval of 12 months... So I don't see why there would be a difference.
Any and all help will be appreciated, thanks.