Dream Come True Calculator
Dream Come True Calculator(T) equal to Log multiple is the price tag on your dream (P) added to the amount of money you save monthly(M) divided to the monthly interest rate .Divided the amount of money save monthly (M)Divided is the monthly interest rate added the initial balance of your account(I).Divided to log multiple 1 number of value added to the monthly interest rate(R %).
The formula us,
Dream Come True = log[(P + M/R) / (M/R + I)] / [log(1 + R)]
let us consider,
- P is the price tag on your dream,
- M is the amount of money you save monthly,
- I is the initial balance of your account,
- R is the monthly interest rate, and
- T is the time, expressed in months.
Calculate the Dream Come True
price tag on your dream,
The amount of money you save monthly,
The initial balance of your account,
The monthly interest rate, and 5% / 12 = 0.42% monthly interest
The time, expressed in months.
5% / 12 = 0.42% monthly interest.
Plug all of these values into the formula above:
T = log[(P + M/R) / (M/R + I)] / [log(1 + R)]
T = log[(33000 + 1500/0.0042) / (1500/0.0042 + 5000)] / [log(1 + 0.0042)]
T = log[(33000 + 357143) / (357143 + 5000)] / [log(1.0042)]
T = log[390143 / 362143] / log [1.0042]
T = log[1.077] / log [1.0042]
T = 0.032 / 0.0018
Dream Come True is 17.78 months