Person A has 1000€ on the bank with 5% interest per month. He also puts 50€ per month to his bank account before he receives the interest. How much does he have after 12 months?
My calculation 1000*((1.05^12)+50)
2026-03-26 06:28:44.1774506524
Capital after interest per month and additional deposits per month
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1
You can split this up into two problems: first, it should be easy to compute the future value of the initial 1000€ deposit after 12 months. The other piece is the periodic payment of 50€; for this, depending on whether the deposits are made at the beginning or the end of each month, you will want to use the formulas for the future value of an annuity due or the future value of an annuity respectively. You can find formulas for all of these on the web.
Note that your formula cannot be right, as the 50€ periodic payment does not accumulate interest in your formula.