ExcelBanter - Calculating Interest

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Jason30

Calculating Interest

Can anyone tell me what this sign means in a formula ^ ??

I'm trying to calculate interest payable on a $191,790 loan, outstanding 620
days and interest rate of 6%?

Gary''s Student

Calculating Interest

^ is the symbol for exponentiation.

5^6 is 5 raised to the sixth power or 15625

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Gary's Student

"Jason30" wrote:

Can anyone tell me what this sign means in a formula ^ ??

I'm trying to calculate interest payable on a $191,790 loan, outstanding 620
days and interest rate of 6%?

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