FUTURE VALUE OF A SERIES OF DE

This program calculates the future value of a series of regular deposits. For example you can determine the future value of an individual retirement account if you make regular annual contributions. You specify the amount of the payment, the number of payments made per year, the annual interest rate your funds earn and the number of years you will make the payments. The program assumes that the compounding period and number of payments per year are the same and that the annual interest rate is constant.

Example

Thomas plans to deposit 50$ in a saving account every

month with an interest rate 5% per annum and

compounded monthly. How much money will be in

his account in 5 years.