I want to compare between different savings offers.
Here are the details :
All offers have 2 different "punishments"
1) X percent per any monthly deposit (calculated immediately upon deposit).
2) Y percent per accumulated money. This calculation is somehow complicated :
2.1) The collection is made once in 3 months
2.2) The interest rate is calculated in a manner so that the "yearly compound interest rate" would be "Y". For example if the yearly interest rate is 2%, than the quarterly interest rate would be something like 0.49%.
The excel sheet should accept two numbers (initial accumulation + monthly deposit).
The output should give me the results at the end of the year :
A) How much is accumulated in each method
B) How much did I pay in each method.