This SIP (Systematic Investment Plan) calculator works by:

Key Components:

1. Inputs:

   • Monthly investment amount

   • Duration (years/months)

   • Expected annual return rate

   • Optional annual investment step-up percentage

2. Calculation Logic:

   • Converts annual return to monthly rate (annualReturn/1200)

   • Handles investments with potential annual increments (step-up)

   • Uses compounding formula monthly:
     Future Value = (Previous Value * (1 + monthlyReturn)) + Monthly Investment

3. Output:

   • Total invested amount

   • Estimated returns

   • Final maturity value