ExcelBanter - View Single Post - Which Finance Function should i use to solve this

wrote:
is there a function that will give me this answer without using
multiple rows and columns to calculate this.

See examples below.

Work four summers, starting at age 16
Save the income in a Roth IRA account
Invest it in a simple, low-cost equity portfolio
Simmer slowly for 47 years
Serve ungarnished (and untaxed) at age 67

If your money is invested in common stocks and you achieve the average
compound annual rate on large-capitalization U.S. stocks, 10.7%, your
account will grow to $9,378 at the end of the fourth year.

To achieve that, you need to invest about $1807 per year, computed by:

=pmt(10.7%, 4, 0, 9378, 1)

You will be 20 years old. Invested in the same way, with no additional
savings, the account will grow to:
$25,917 by the time you are 30
$71,625 by the time you are 40
$197,943 by the time you are 50
$547,037 by the time you are 60
And $1,114,423 by the time you are 67

If the age (30, 40, etc) is in A1, then:

=fv(10.7%, A1-20, 0, -9378)

My answers are a little different: $197,942 at 50, $574,035 at 60 and
$1,114,419 at 67. The differences could be due to round-off in some of
the input numbers.