Inflation Impact Calculator for Recurring Expenses
Why This is an Opportunity
The user is looking for a way to automate the calculation of total costs over time while accounting for yearly inflation. A standalone web app that allows users to input their yearly expenses and the inflation rate to see a breakdown of costs over multiple years would directly address their needs. This could be a simple calculator with historical data export options.
Key Pain Points
- •Difficulty in calculating total costs accounting for yearly inflation
- •Inability to find a simple tool to automate the calculations
- •Need for clear visualization of changing expenses over time
Original Discovery
Hi all, I'm trying to calculate the inflation on top of a recurring yearly expense. Looks like this: 40000 cost each year with 2% on top for x number of years (see table). I haven't been able to find the formula to automate with. In 53 years the total cost is 53\*40000 flat, but how much is it when accounting for 2% inflation each year. If I understand the basic of calculating this it's 40000 this year + 800 (the first 2%) which in year two is 80800 , in year three it's 2% of 80800 on top + the next 40000, 82416 + 40000 = 122416, and so on. What's the formula to do this? I hope my question makes sense and that someone might be able to help. |Number of years|yearly expense|2% yearly inflation| |:-|:-|:-| |53|40000|2%| |52|40000|2%| |49|40000|2%| |45|40000|2%| |44|40000|2%| |41|40000|2%| |41|40000|2%| |40|40000|2%|
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