Recent content by TheTunnel

Thanks alot, solved it perfectly.

Hey, I have another question I think you can help me solve. Suppose I get 20% per year and withdraw 20% of the 20%, I would need to use 16% interest instead right, so I can now calculate the amount I will have.But, what if I want to know the total amount I have withdrawn, you know how to...

Thanks, but I was bad in math so don't understand it much. I think rettaibi told correct in simple format, if I withdraw 20% from interest, than 20% of 20% would be 4%, so 20% minus 4% would be 16% which is actually correct.

pnvhq thanks alot, you help me understand it, you are correct. /Case close.

No, I did earn $39.20 in interest, we only calculate from the amount we receives as interest, so, the interest will keep increasing because the principle keeps increasing.

Problem solved.

Yea, I was actually wrong, but you are wrong too. it wouldn't be 139.2 (as I forgot to subtract the 20%), but it actually will be 131.36 and not 134.56 Because, 20% of 39.2 = 7.84, now, 139.2 - 7.84 = 131.36 So, the principle would be 131.36 So, the formula of using 16 % is not correct. If...

Problem solved.

Problem solved Thanks

Actually that is wrong, with that formula, 2nd year we would get 134.56 but actually it should be 139.20 when calculating manually. Still can't get the equation, for those who didn't read the first post, the question is, Suppose I invest $100 and get 20% interest per year. And I withdraw 20%...

Solved.

Solved.

The best way to understand something is to experience it.

how much is that.

nevermind.