I have the following spreadsheet:
column a
Year
2006
column b
Beginning balance
25000
column c
yearly contribution
10000
column d
Interest Rate
15%
column e
Interest Income
??
column f
Ending Balance
Beg bal + yr contr + Int income
Contributions would be made at the beginning of year. Interest rate is
annual interest rate.
WHAT IS THE FORMULA FOR THE INTEREST INCOME?
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JR573PUTT
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