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Math Help - Compound amount of a uniform series

  1. #1
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    Cool Compound amount of a uniform series

    Hey all a few quick questions


    Im fine calculating simple uniform series equations, my issue arises when the amount changes half through a series and also when you have a starting amount different from your deposits. I'll make up a question as an example

    Lets say,

    Chad opens a bank account and immediatly deposits $2000, from here he will make yearly payments of $500 for the next 5 years before increasing the deposit to $1000 for the for the 5 years after this.
    How much money will chad have in his account after 10 years?

    So thats my issue!! If someone could talk me through it step by step that would be great!

    Another quick question, what is the easiest way to do formula (as shown below) on a computer

    The amortization formula is: .

    Thanks
    Kel
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  2. #2
    Senior Member tukeywilliams's Avatar
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    To show the formula on the computer you need a program called LaTeX.

    Here you can do the following:

    A = P \frac{i(1+i)^n}{(1+i)^n-1} \Rightarrow P = A \frac{(1+i)^n - 1}{i(1+i)^n}

    put [ m a t h] [/ m a t h] tags (without the spaces) around the above statement to get:

     A = P \frac{i(1+i)^n}{(1+i)^n-1} \Rightarrow P = A  \frac{(1+i)^n - 1}{i(1+i)^n}
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  3. #3
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    Thanks, Is the full version, downloadable free?
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  4. #4
    Senior Member tukeywilliams's Avatar
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    Yes it is free (full version). If you are running Windows, download MikTeX.
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  5. #5
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    bump for the compound question.

    Im guessin I just use the compound amount formula for the intiail deposit the the uniform series formula for the rest. any help?
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  6. #6
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    The only real useful advice I can offer is to think about it and make it as regular as you can. Whatever is left over, handle separately.

    For example:
    2000, 500, 500, 500, 500, 1000, 1000, 1000, 1000

    This could be handled in little, irritating pieces, but you could do it like this:

    500, 500, 500, 500, 500, 500, 500, 500, 500
    0, 0, 0, 0, 0, 500, 500, 500, 500
    1500, 0, 0, 0, 0, 0, 0, 0, 0

    It's not magic, but you can use your favorite formula on two pieces and the last chunk is pretty easy.
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