Reverse compound interest? - reverse compounding
I'm not good at math, but I understand it, it shows you please explain the formula:
Suppose you want to get in 20 years with a $ 1,000,000 retirement and 4% interest. How much you save each month?
Thank you!
Tuesday, January 19, 2010
Reverse Compounding Reverse Compound Interest?
1 comment:
Assuming a monthly basis, you would have $ 2717.41 per month for 20 years, you make a deposit today.
The easiest way is to take all this into a financial calculator plug, but the formulas are not difficult. Find the future value of an annuity (or annuities due): http://en.wikipedia.org/wiki/Time_value_ ...
Remember, there is no such thing in theory, compound interest as "backward". Compound interest is always working so it just depends on the person who receives the benefit of the box and when.
I hope this is not the real life after retirement Calc!
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