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To achieve 61051 INR after 5 yrs at 10% interest rate what should be the yearly investment amount?

This is typical problem where we need to find monthly investment for particular return after a specific period. So let’s take the above case where we need to get 61051 INR after 5 yrs. We know a bank which gives yearly 10% rate of interest. So how much should we invest on a a yearly basis to get 61051 INR. To get the yearly investment amount we can use the PMT function as shown in the figure ‘PMT in action’ below. We have taken the target amount as FV i.e. future value. So to get 61051 INR we need to invest 10,000 INR on a yearly basis.

Figure: - PMT in action

Hard copy is hard copy.You can read it , experiment it , prepare notes and lot. So why read online samples when you can own a full copy for less than 4$ .Email [email protected]  to buy hard copy of the same. If you think the excel book can be improved please email the author at [email protected]
 

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