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My Mutual Fund Questions(s), Solved??
Following scenario
$1,000 invested 6% rate annually $100 per month [$1,200 for a year] Total Time invested = 1 Year [12 months] The Results vary, a lot. FV in Excel Says $2,301.40 http://www.planningtips.com/cgi-bin/savings.pl Said = $2,295.23 http://www.abgnational.com/calculato...ndSavings.html Said = $2,299 http://personal.fidelity.com/toolbox...h/growth.shtml Said = $2,332 http://www.csgnetwork.com/compoundint2calc.html Said = $2,332 http://www.finance.cch.com/sohoApple...mentReturn.asp Said = $2,312 http://www.americancentury.com/works...value_calc.jsp Said = $2,301 http://www.moneychimp.com/calculator...calculator.htm LOOK = 2,301.40 <--Same as FV I think this is because of the compounding issue. Some of these calculators compounded annually by default, some did it by default and didn't allow you to change it. It's the compounding stupid! Mind you, these are a snapshot of the online calc websites. I'm sure a few thousand more exists. I'm in hopes I figured this out finally? |
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