PPF Calculator Yearly Wise Different Amount

PPF Maturity Formula:

\[ Maturity = \sum_{k=1}^{n} P_k \times (1 + i)^{n - k + 1} \]

Investment Period (Years):

years

Interest Rate:

Yearly Investments:

Year 1: $

Year 2: $

Year 3: $

Year 4: $

Year 5: $

Year 6: $

Year 7: $

Year 8: $

Year 9: $

Year 10: $

Year 11: $

Year 12: $

Year 13: $

Year 14: $

Year 15: $

Total Invested ($):

Maturity Value ($):

Total Interest Earned ($):

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1. What is a PPF Calculator with Yearly Different Amounts?

Definition: This calculator estimates the maturity value of a Public Provident Fund (PPF) account where you can invest different amounts each year.

Purpose: It helps investors plan their PPF investments when they want to contribute varying amounts each year while seeing the projected maturity value.

2. How Does the Calculator Work?

The calculator uses the formula:

\[ Maturity = \sum_{k=1}^{n} P_k \times (1 + i)^{n - k + 1} \]

Where:

$ Maturity $ — Final maturity amount ($)
$ P_k $ — Deposit amount in year k ($)
$ i $ — Annual interest rate (7.1% = 0.071)
$ n $ — Total investment period (years)
$ k $ — Current year of investment

Explanation: Each yearly investment compounds for the remaining tenure of the PPF account at the given interest rate.

3. Importance of PPF Calculation

Details: PPF is a popular long-term savings scheme with tax benefits. Accurate calculations help in financial planning and goal setting.

4. Using the Calculator

Tips: Enter investment period (15 years typical), current interest rate (default 7.1%), and different amounts for each year. All values must be valid.

5. Frequently Asked Questions (FAQ)

Q1: What is the minimum and maximum investment in PPF?
A: Minimum $500/year, maximum $150,000/year (as of current rules).

Q2: Can I change the yearly amounts later?
A: Yes, this calculator is specifically designed for varying yearly investments.

Q3: How often is interest compounded in PPF?
A: Interest is compounded annually and credited at the end of each financial year.

Q4: What's the current PPF interest rate?
A: As of 2023, it's 7.1% but check with your bank for current rates.

Q5: Can I extend my PPF account beyond 15 years?
A: Yes, in blocks of 5 years after the initial 15-year period.