ARGH! Need maths help!

[blamebrampton]

I was once good at maths.

I know I should know how to do this, but I cannot remember enough to see if my method is effective or not. I found a website that will let me punch in numbers and give me an answer, but I want to check it! So I am hoping that shocolate  or someone similarly gifted is up and about.

I start with $50. Every week, I add $50. I have a compounding interest rate of 9.96%. I compound it annually, or monthly (two results). What do I have at the end of 21 years?

More than happy to do all the actual working if someone can remind me of what the formulae are.

Comments

[arcanetrivia]

What I wanna know is where the heck you are getting an interest rate that fantastic, since my best account right now is slightly above 2%.

[blamebrampton.livejournal.com]

All hypothetical. Though if you want something good at the moment, see if you can invest in the Australian Stock Exchange, it's trending nicely. Buy in after a US-led dip ;-)

[blamebrampton.livejournal.com]

NB I am an editor. Speak to a trusted financial adviser. Then ask to see their records for the last 10 years and if they Goldman Sachsed it, run like the wind ;-)