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It's not hard to adjust the formula for an initial lump sum (add 1 variable). Also, i believe my example was monthly payments? (and tha'ts what he wanted i assume).

So the only thing i need to adjust is an initial lump sum?
if so, no problem. It's a very well known formula.


I was looking for a formula that would allow me to start with a lump sum, keep adding a set amount of money to that lump sum each month, and then calculate what I would have at the end.

I looked at the formula you included in your other message, but couldn't figure out where a lump sum could be inserted in that equation. Do you know where it would go?

In the meantime, I went to the first link and entered in the information to see how long it would take for me to reach the target amount I had set for the ten year mark--as I suspected, I had underestimated how long it would take me to reach my goal!! By about, well, 2 1/2 years.

And I was only using the average growth rate of the S&P 500 (11% per year). Since I'm hoping to beat the S&P 500 with my drip portfolio, it looks like I should set my goal slightly bigger than it is now.

Thanks to everyone again!

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