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If I invest 30,000 Rs per month in an SIP for 15 years, how much total amount would I get at the end of 15 years without any risk?
Ravi
23 January, 2024Assuming an average annual return of 10%, the calculation for the future value of your SIP investment is as follows:
FV = P * [(1 + r)^n - 1] / r
Where:
FV = Future Value
P = Monthly investment amount (30,000 Rs)
r = Monthly interest rate (10% / 12 = 0.8333% or 0.008333 as a decimal)
n = Number of periods (15 years * 12 months = 180 months)
Using these values, we can calculate the future value:
FV = 30000 * [(1 + 0.008333)^180 - 1] / 0.008333
Calculating this equation gives us the future value of your investment after 15 years without any risk:
FV ≈ 12,999,357 Rs
Therefore, by investing 30,000 Rs per month in an SIP for 15 years with a conservative average annual return of 10%, you could potentially accumulate approximately 12,999,357 Rs at the end of the investment period.
