Escalating Payments within Lease Management system

Legacy Contributor

We're trying to develop a way to escalate payments by 2% every year (12 monthly payments would occur within each year).

For example, the lease would calculate
Year 1 - Monthly Payment Amount = $1,000.00
Year 2 - Monthly Payment Amount = $1,050.00
Year 3 - Monthly Payment Amount = $1,102.50
Year 4 - Monthly Payment Amount = $1,157.63

We could set up recurring payments for the various different amounts, but they would prefer to let them system calculate the payments via a compute statement. We're struggling to come up with one compute statement to cover every year.

Has anyone tried to create a compute statement that will escalate payments up by a certain percentage every year?