I'm not certain how to phrase my question so I'm attaching an example instead. If a current expense increases by 3% per year over the next 20 years how much total expense will be incurred in total?
In the attached Excel file I've mocked up the example. I used the FV() function to determine the expense for year 20, but I want to calculate the sum of the total 20 year's expense (1433.82 in cell A23) using a function
in a single cell. Any ideas?