I need to forecast $30,000 over 5 years with an annual increase of 3.75%. ?

Question

Please give me the calculation to forecast any number for five years with an annual increase of 3.75%.

Thanks for your reply, I know I should know this, but don't.

Answer 1

30,000 x 1.0375^5 = $36,063

It's compound interest, so you take your percentage as a decimal and multiply it by itself the number of years you have, and then times by the original amount.