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is there an equation to figure out how much i will pay at the end of the 40 years so i kn

is there an equation to figure out how much i will pay at the end of the 40 years so i kn

is there an equation to figure out how much i will pay at the end of the 40 years

so i know i can just do

200 * .03 = 6

so first payment is 200 second is 206 and i have to keep doing it for 40 times and add them all together but is there a shorter way to find this answer?

The one time membership fee payable today is $2000 and the other option is to pay an annual fee starting with $200 increasing at the growth rate of 3% for next 40 years

Abhinav 04-Dec-2019

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