How to calculate dividend income based on future 'base amount' invested?
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For example: Lets say I invest 120 dollars per week for 38 years into a money market fund that has an average 7-day yield of 3.5%. The 'base amount' invested would be 38 years * 52 weeks in a year * $120/week invested == $ 237,120. Can someone provide me with a way to calculate how much dividend income this would generate for a single month at a given base value?
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Answer:
This is a regular investment problem. The answer is $489,185 I have a financial calculator. The formula is too complicated.
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