How do I calculate amortization?

Question

Firstly, I don't really know what it is.

What I am really looking to calculate is what my money would be if I invested x dollars per week into a fun with whatever interest rate... what my saved money would be after however many years.

Thanks!

Answer 1

i = interest rate

ii = i/52 = a weekly rate

What you need to calculate is:

[((1+ii)^(52*number of years))-1]/ii

so if i = 52%
and we invested for one year we would have

[(1+1%)^52 - 1]/1% = 67.7

That is the amount of 1 being grown at that time. If you invested x, you would multiply your result by x.