Projected Value of Increasing Deposits
Calculate the account value in 20 years of a monthly deposit of $100 starting today, increasing by 2% per year. Assume a 6% rate of return.
Use the following values for the prompts:
Prompt 
Value 

Calculation Type 
Accumulation 

Calculate 
Future Value 

Current Account Value 
0 

Interest Rate 
6 

Number of Years 
20 

Type of Deposits 
Annual Increase by a Percent 

Deposits per Year 
12 

Amount of Each Deposit 
$100 

Type of Deposits 


Annual Increase in Deposit 
2% 

Deposits Made at 
Beginning of Period 
The Calculated Projected Value shows $53,297.92.
What would the account value be if deposits were increased annually by 3%?
Change the Annual Increase in Deposit to 3%.
The Calculated Projected Value shows $57,846.24.