Hi

I am trying to build a calculator in Excel 2010 using a formula (not VBA) that will allow me to find the future value of savings where:

Payments are monthly - say £100
The term will be a multiple of months. Say 241 months (i.e. 20 years & 1 month)
The payment increases every year by a fixed amount (say 4% to reflect increases in salary)
There is an initial fund managers charge taken from each payment - say 1% of the payment
The fund grows every month at an annual rate of say 5% p.a.
There is a fund managers charge of say 1.5% p.a. that reduces the growth ( I could just reduce the growth rate by the charge)

I've searched high and low and cant find anything that will deal with the initial charge or the increasing payment.

Any help much appreciated

Francis