I need a calculation for 5% simple interest annually. (my previous post was for compound interest)
The FM Financial calculation scripts don't seem to work for what I need, which is an increase of "x" per year, which is the same amount added every year based on 5% of the original amount.
For example, if I have a starting "amount" 2000, "interest" 5% (.05), and "term" year.
And should get this:
Start 2000 x .05 = 100
Year 1* 2100
Year 2* 2200
Year 3* 2300
Year 4* 2400
...
Year 9* 2900
etc...
*would actually be the anniversary of year 1, 2, ...
Your help, yet again, is greatly appreciated.