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Starting payment when increase rate is known & total payment is kn
Does anyone know of a function that can provide the the starting payment and
the subsequent payments thereafter to reach a total as defined. Example: Total payments must be 5000 over 5 years. The increase rate is 10% every year, so what will the starting payment be. I have been able to figure this out using Algebra type mathematical formula's in excel, however i believe there must be a function that can very easily achieve this more quickly. The field Total payments, no of payments and increase rate is known, while the unknown is the starting payment and the payments subsequent to that. -- Thank you in advance Shailendra Harri |
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