if i deposit 1000 each year to a pension saving fund for 41 years with an inflation of 1.40% and an interest of 4.40% (yearly), then how am i able to get the answer in one FV formula. I've already made a table for each year but am unable to get the answer in one formula.
I've done that and used it into my FV formula but i still don't get my the correct answer. I used: -FV(2.95857988%,41,1768.300847,1000,1). I'm very close to the answer (149 926.15) but i think i use a wrong PMT.
Since the FV formula will only accept one interest rate, the easiest option would be to adjust the interest rate for inflation: (1 + Interest Rate) / (1 + Inflation) - 1
Instead of a table, you can use Excel’s FV formula. Just adjust for inflation and enter it all in one line. I found it much quicker and easier for long-term calculations like yours!
