d 3%

P 550
d2 3.50% after 10 years
time DF DF2

1 6 550 0.832972 458.1346

2 7 550 0.807983 444.3906
3 8 550 0.783743 431.0588
4 9 550 0.760231 418.1271
5 10 550 0.737424 405.5833
6 11 550 0.737424 0.965 391.3879
7 12 550 0.737424 0.931225 377.6893
8 13 550 0.737424 0.898632 364.4702
9 14 550 0.737424 0.86718 351.7137
10 15 550 0.737424 0.836829 339.4037
3981.959
P 100
i(12) 3.2%
i 3%

d(2) 2.3%
time AF AV
1 1.032
2 1.066 1
3 1.101 2
4 1.136 3
5 1.173 4
6 1.211 5
7 1.251 6
8 1.291 7
9 1.333 8
10 1.377 9
10
11
12
13
14
15
16
17
18
19
20
i 3%
delta 2.956%
p i(p) d(p)
2 2.978% 2.93%
4 2.967% 2.94%
12 2.960% 2.95%

d 1.40% i 1.42%
p i(p) d(p)
2 1.415%
4 1.412%
12 1.411%
P 100
i(12) 3.2%
i 3%

time AF AV
1 1.032
2 1.066
3 1.101
4 1.136
5 1.173
6 1.211
7 1.251
8 1.291
9 1.333
10 1.377
d(2) 2.3

i 4.50% d 4.50% i(4) 4.75% d(12) 4%

i 4.71% 4.84% 0.04088
lump 100
time AF AV(i) AV(d) AV(i(4))
1 1.045 104.5 104.712 104.8353 A
2 1.092025 109.2025 109.6461 109.9044
3 1.141166 114.1166 114.8127 115.2185
300
4 1.192519 119.2519 120.2227 120.7897
5 1.246182 124.6182 125.8877 126.6302 250

6 1.30226 130.226 131.8195 132.7531 200

7 1.360862 136.0862 138.0309 139.1721 150

AV
8 1.422101 142.2101 144.535 145.9015 100
9 1.486095 148.6095 151.3455 152.9562 50
10 1.552969 155.2969 158.477 160.3521 0
11 1.622853 162.2853 165.9445 168.1056 1 2 3
12 1.695881 169.5881 173.7639 176.2339
13 1.772196 177.2196 181.9517 184.7554
14 1.851945 185.1945 190.5254 193.6888
15 1.935282 193.5282 199.503 203.0542
16 2.02237 202.237 208.9037 212.8724
17 2.113377 211.3377 218.7473 223.1654
18 2.208479 220.8479 229.0548 233.9561
19 2.30786 230.786 239.8479 245.2685
20 2.411714 241.1714 251.1496 257.128
21 2.520241 100
1
1
delta 4.90%
5.02%

AV using different interest rates

300
250
200
150
AV

100
50
0
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21
Time

AV(i) AV(d) AV(i(4))

i 4%

p i(p) delta
1 4.000% 3.92%
2 3.961% 3.92%
3 3.948% 3.92%
4 3.941% 3.92%
5 3.937% 3.92%
6 3.935% 3.92%
7 3.933% 3.92%
8 3.932% 3.92%
9 3.931% 3.92%
10 3.930% 3.92%
11 3.929% 3.92%
12 3.928% 3.92%
13 3.928% 3.92%
14 3.928% 3.92%
15 3.927% 3.92%
16 3.927% 3.92%
17 3.927% 3.92%
18 3.926% 3.92%
19 3.926% 3.92%
20 3.926% 3.92%
21 3.926% 3.92%
22 3.926% 3.92%
23 3.925% 3.92%
24 3.925% 3.92%
25 3.925% 3.92%
26 3.925% 3.92%
27 3.925% 3.92%
28 3.925% 3.92%
29 3.925% 3.92%
30 3.925% 3.92%
31 3.925% 3.92%
32 3.924% 3.92%
33 3.924% 3.92%
34 3.924% 3.92%
35 3.924% 3.92%
36 3.924% 3.92%
37 3.924% 3.92%
38 3.924% 3.92%
39 3.924% 3.92%
40 3.924% 3.92%
41 3.924% 3.92%
42 3.924% 3.92%
43 3.924% 3.92%
44 3.924% 3.92%
45 3.924% 3.92%
46 3.924% 3.92%
47 3.924% 3.92%
48 3.924% 3.92%
I(p) vs Delta in long run
49 3.924% 3.92%
50 3.924% 3.92%
51 3.924% 3.92% 4.020%
4.000%
52 3.924% 3.92%
3.980%
53 3.924% 3.92%

Axis Title
3.960%
54 3.923% 3.92%
3.940%
55 3.923% 3.92%
3.920%
56 3.923% 3.92%
3.900%
57 3.923% 3.92% 3.880%
58 3.923% 3.92% 0 10 20 30 40 50 60 70 80
59 3.923% 3.92% Axis Title
60 3.923% 3.92%
61 3.923% 3.92% i(p) delta
62 3.923% 3.92%
63 3.923% 3.92%
64 3.923% 3.92%
65 3.923% 3.92%
66 3.923% 3.92%
67 3.923% 3.92%
68 3.923% 3.92%
69 3.923% 3.92%
70 3.923% 3.92%
71 3.923% 3.92%
72 3.923% 3.92%
73 3.923% 3.92%
74 3.923% 3.92%
75 3.923% 3.92%
76 3.923% 3.92%
77 3.923% 3.92%
78 3.923% 3.92%
79 3.923% 3.92%
80 3.923% 3.92%
81 3.923% 3.92%
82 3.923% 3.92%
83 3.923% 3.92%
84 3.923% 3.92%
85 3.923% 3.92%
86 3.923% 3.92%
87 3.923% 3.92%
elta in long run

40 50 60 70 80 90 100
Axis Title

(p) delta
p 1500
Investment at time 5 2000
i 3%
t 10

time investmentInvestment 2 Total

0 1500 0 1500 0 1500
1 1500 0 1545 0 1545
2 1500 0 1590 0 1590
3 1500 0 1635 0 1635
4 1500 0 1680 0 1680
0 5 1500 2000 1725 2000 3725
1 6 1500 2000 1770 2060 3830
2 7 1500 2000 1815 2120 3935
3 8 1500 2000 1860 2180 4040
4 9 1500 2000 1905 2240 4145
5 10 1500 2000 1950 2300 4250

effective i 2.72% Acc Value 4.2500000E+03

difference 0%
time 12 d 3.8461538461538500%
AP 150 pa s(due n) 15.6268376827597
i 4% Total 2344.02565241396
time Payment AF AV PF PV
0 150 1.601032 240.1548 1 150
1 150 1.539454 230.9181 0.961538461538462 144.230769230769
2 150 1.480244 222.0366 0.924556213017751 138.683431952663
3 150 1.423312 213.4968 0.888996358670915 133.349453800637
4 150 1.368569 205.2854 0.854804191029726 128.220628654459
5 150 1.315932 197.3898 0.821927106759352 123.289066013903
6 150 1.265319 189.7979 0.790314525730146 118.547178859522
7 150 1.216653 182.4979 0.759917813202063 113.987671980309
8 150 1.169859 175.4788 0.730690205001984 109.603530750298
9 150 1.124864 168.7296 0.702586735578831 105.388010336825
10 150 1.0816 162.24 0.675564168825799 101.33462532387
11 150 1.04 156 0.649580931563268 97.4371397344902
2344.026 1464.07150663774
S(n) 15.02581
Total 2253.871
i 5%
payment 300 pa
Monthly p 25
time in yea 20
time in mo 240
i 5.06%
i(12)/12 0.4%
time payment DF PV
1 25 0.995893 24.89733
2 25 0.991803 24.79507
3 25 0.98773 24.69324
4 25 0.983673 24.59183
5 25 0.979633 24.49083
6 25 0.97561 24.39024
7 25 0.971603 24.29007
8 25 0.967613 24.19031
9 25 0.963639 24.09097
10 25 0.959681 23.99202
11 25 0.95574 23.89349
12 25 0.951814 23.79536
13 25 0.947905 23.69763
14 25 0.944012 23.60031
15 25 0.940135 23.50338
16 25 0.936274 23.40685
17 25 0.932429 23.31072
18 25 0.928599 23.21499
19 25 0.924786 23.11964
20 25 0.920988 23.02469
21 25 0.917205 22.93013
22 25 0.913438 22.83595
23 25 0.909687 22.74217
24 25 0.905951 22.64877
25 25 0.90223 22.55575
26 25 0.898524 22.46311
27 25 0.894834 22.37086
28 25 0.891159 22.27898
29 25 0.887499 22.18748
30 25 0.883854 22.09636
31 25 0.880224 22.00561
32 25 0.876609 21.91523
33 25 0.873009 21.82523
34 25 0.869424 21.73559
35 25 0.865853 21.64632
36 25 0.862297 21.55742
37 25 0.858755 21.46889
38 25 0.855229 21.38071
39 25 0.851716 21.2929
40 25 0.848218 21.20545
41 25 0.844735 21.11836
42 25 0.841265 21.03163
43 25 0.83781 20.94525
44 25 0.834369 20.85923
45 25 0.830943 20.77356
46 25 0.82753 20.68825
47 25 0.824131 20.60328
48 25 0.820747 20.51866
49 25 0.817376 20.43439
50 25 0.814019 20.35047
51 25 0.810676 20.26689
52 25 0.807346 20.18366
53 25 0.80403 20.10076
54 25 0.800728 20.01821
55 25 0.79744 19.93599
56 25 0.794165 19.85412
57 25 0.790903 19.77258
58 25 0.787655 19.69137
59 25 0.78442 19.6105
60 25 0.781198 19.52996
61 25 0.77799 19.44975
62 25 0.774795 19.36987
63 25 0.771613 19.29032
64 25 0.768444 19.21109
65 25 0.765288 19.1322
66 25 0.762145 19.05362
67 25 0.759015 18.97537
68 25 0.755897 18.89744
69 25 0.752793 18.81982
70 25 0.749701 18.74253
71 25 0.746622 18.66556
72 25 0.743556 18.5889
73 25 0.740502 18.51255
74 25 0.737461 18.43652
75 25 0.734432 18.3608
76 25 0.731416 18.2854
77 25 0.728412 18.2103
78 25 0.72542 18.13551
79 25 0.722441 18.06103
80 25 0.719474 17.98685
81 25 0.716519 17.91298
82 25 0.713576 17.83941
83 25 0.710646 17.76615
84 25 0.707727 17.69318
85 25 0.704821 17.62051
86 25 0.701926 17.54815
87 25 0.699043 17.47608
88 25 0.696172 17.4043
 89 25 0.693313 17.33282
90 25 0.690466 17.26164
91 25 0.68763 17.19075
92 25 0.684806 17.12014
93 25 0.681993 17.04983
94 25 0.679192 16.97981
95 25 0.676403 16.91007
96 25 0.673625 16.84062
97 25 0.670858 16.77146
98 25 0.668103 16.70258
99 25 0.665359 16.63398
100 25 0.662627 16.56567
101 25 0.659905 16.49763
102 25 0.657195 16.42988
103 25 0.654496 16.3624
104 25 0.651808 16.2952
105 25 0.649131 16.22828
106 25 0.646465 16.16163
107 25 0.64381 16.09525
108 25 0.641166 16.02915
109 25 0.638533 15.96332
110 25 0.63591 15.89776
111 25 0.633299 15.83246
112 25 0.630698 15.76744
113 25 0.628107 15.70268
114 25 0.625528 15.63819
115 25 0.622959 15.57397
116 25 0.6204 15.51001
117 25 0.617852 15.44631
118 25 0.615315 15.38287
119 25 0.612788 15.31969
120 25 0.610271 15.25677
121 25 0.607765 15.19411
122 25 0.605268 15.13171
123 25 0.602783 15.06957
124 25 0.600307 15.00768
125 25 0.597842 14.94604
126 25 0.595386 14.88466
127 25 0.592941 14.82353
128 25 0.590506 14.76265
129 25 0.588081 14.70202
130 25 0.585665 14.64164
131 25 0.58326 14.5815
132 25 0.580865 14.52162
133 25 0.578479 14.46198
134 25 0.576103 14.40258
135 25 0.573737 14.34343
136 25 0.571381 14.28452
137 25 0.569034 14.22586
138 25 0.566697 14.16743
139 25 0.56437 14.10925
140 25 0.562052 14.0513
141 25 0.559744 13.99359
142 25 0.557445 13.93612
143 25 0.555155 13.87888
144 25 0.552875 13.82188
145 25 0.550605 13.76512
146 25 0.548343 13.70858
147 25 0.546091 13.65228
148 25 0.543849 13.59621
149 25 0.541615 13.54037
150 25 0.539391 13.48476
151 25 0.537175 13.42938
152 25 0.534969 13.37423
153 25 0.532772 13.3193
154 25 0.530584 13.2646
155 25 0.528405 13.21012
156 25 0.526235 13.15587
157 25 0.524073 13.10184
158 25 0.521921 13.04803
159 25 0.519778 12.99444
160 25 0.517643 12.94107
161 25 0.515517 12.88792
162 25 0.5134 12.83499
163 25 0.511291 12.78228
164 25 0.509191 12.72978
165 25 0.5071 12.6775
166 25 0.505017 12.62544
167 25 0.502943 12.57358
168 25 0.500878 12.52194
169 25 0.498821 12.47052
170 25 0.496772 12.4193
171 25 0.494732 12.3683
172 25 0.4927 12.3175
173 25 0.490676 12.26691
174 25 0.488661 12.21653
175 25 0.486654 12.16636
176 25 0.484656 12.11639
177 25 0.482665 12.06663
178 25 0.480683 12.01707
179 25 0.478709 11.96772
180 25 0.476743 11.91857
181 25 0.474785 11.86962
182 25 0.472835 11.82087
183 25 0.470893 11.77232
184 25 0.468959 11.72397
185 25 0.467033 11.67582
186 25 0.465115 11.62787
187 25 0.463205 11.58011
188 25 0.461302 11.53256
189 25 0.459408 11.48519
190 25 0.457521 11.43802
191 25 0.455642 11.39105
192 25 0.453771 11.34426
193 25 0.451907 11.29767
194 25 0.450051 11.25127
195 25 0.448203 11.20507
196 25 0.446362 11.15905
197 25 0.444529 11.11322
198 25 0.442703 11.06757
199 25 0.440885 11.02212
200 25 0.439074 10.97685
201 25 0.437271 10.93177
202 25 0.435475 10.88687
203 25 0.433686 10.84216
204 25 0.431905 10.79763
205 25 0.430132 10.75329
206 25 0.428365 10.70912
207 25 0.426606 10.66514
208 25 0.424854 10.62134
209 25 0.423109 10.57772
210 25 0.421371 10.53428
211 25 0.419641 10.49101
212 25 0.417917 10.44793
213 25 0.416201 10.40502
214 25 0.414491 10.36228
215 25 0.412789 10.31973
216 25 0.411094 10.27734
217 25 0.409405 10.23513
218 25 0.407724 10.1931
219 25 0.406049 10.15124
220 25 0.404382 10.10955
221 25 0.402721 10.06803
222 25 0.401067 10.02668
223 25 0.39942 9.985497
224 25 0.397779 9.944487
225 25 0.396146 9.903645
226 25 0.394519 9.862971
227 25 0.392899 9.822464
228 25 0.391285 9.782123
229 25 0.389678 9.741948
230 25 0.388078 9.701938
231 25 0.386484 9.662093
232 25 0.384896 9.62241
233 25 0.383316 9.582891
234 25 0.381741 9.543535
235 25 0.380174 9.50434
236 25 0.378612 9.465306
237 25 0.377057 9.426432
238 25 0.375509 9.387718
239 25 0.373966 9.349162
240 25 0.372431 9.310766
3804.451
d 3%
P 550

time DF

1 6 550 0.832972 458.1346

2 7 550 0.807983 444.3906
3 8 550 0.783743 431.0588
4 9 550 0.760231 418.1271
5 10 550 0.737424 405.5833
6 11 550 0.715301 393.4158
7 12 550 0.693842 381.6133
8 13 550 0.673027 370.1649
9 14 550 0.652836 359.06
10 15 550 0.633251 348.2882
4009.836