formula for calculating how much is your money worth

Hi guys

I am looking for a formula to calculate how much will my money be worth after a period of time at the current value

Someone told me to use this formula 1USD/(1+i)^n ,i= current interest rate and n = the period of time

So if the current interest rate would be 0.25% and if i want to know how much my money will be worth after 10 years i should use this :

1usd/(1+0.0025)^10 = 0.975 USD this is what my money will be worth after 10 years at the current interest rate of 0.25%


Is this the correct formula?

 

Not sure why you would care one way or the other. What will the prices of various commodities be in 10 years due to inflation? That would be the *real* value of your money.
Also interest rates are fluid, and no way could you get one locked in for 10 years.

 

I am thing of saving some cash in the bank and they have 4% deposit interest rate(not the same as the global interest rate of 0.25%)...problem is if i put 1000 usd in the bank for 2-3 year i would like to know how much will i get at the current value ,is there a formula to estimate this?

 

Well that's the problem i would put the 1k$ on the stock market but i live in EU country and i pay lot of taxes if i invest it in the stock market,they allow only the big guys to invest in stock market ,little guys have no chance ...

 

at 4% after 3 years you would have $1124.9 that is assuming zero inflation