USA Cant find two accounting formulas?

[Lucas Zlock]

What is the formula for an annuity that that I add to each month, and simultaneously grows at a set interest rate annually?

For example, if I have an annuity that I add $500 to each month, and at the same time grows by 7% every year for 40 years. Please note, it is not compound interest on a single starting amount. It is added to each month.

Second, what is the formula for a fund that I take a set amount away from every month, yet simultaneously grows by a set interest rate every year?

For example, if I have an account with $100,000 in it that I take $5,000 from each month, yet grows by 2% annually for 20 years. Please note, it is being taken away from every month, and increasing at a slight rate once per year.

Thanks!

 

[Fidget]

Just google "annuity tables" and you get a whole host of them - most of them will have the long-hand formula stated on them as well.