compounding years and months
Attempting to create a calculation tool to determine future value compounding
various rates for set periods...
PV=1070.52 (cell c8)
Period 1 9% (cell C16) for 8 years (cell D17) 1 month (cell E16)
Period 2 8% (cell C17) for 5 years (cell D17)
Period 3 7% (cell C18) for 12 years (cell D18) and 7 months (cell E18)
I come up with $7395.89, total should be $7449.23 ...Here's how I'm
calculating...
=C8*((1+C16)^(D16+E16/12)*(1+C17)^(D17+E17/12)*(1+C18)^(D18+E18/12))
I believe my problem is how the months are bieng calculated....
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