Future Value Payment Series
 

Is there a function that will calculate the total payments made where the
payments are made monthly, but the payment amount changes annually by a
certain percentage say 3%. For example:

1/2008 - 12/2008 12 payments made at first day of each month of $100 for year
1/2009 - 12/2009 12 payments made at first day of each month of $103 for year
1/2010 - 12/2010 12 payments made at first day of each month of $106.09 for
year
1/2010 - 12/2010 12 payments made at first day of each month of $109.27 for
year
total payments made $5,020.35

Thank you for your help.

--
Roger Maniccia
emdeon
26 Century Blvd
Nashville, Tenn
615-886-9031