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#1
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compound interest
i'm trying to set up a formula that calculates interest over a period, based
on a compounding interest rate... any ideas |
#2
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compound interest
have a look in help at the FV function.
Mike "martinbarnes" wrote: i'm trying to set up a formula that calculates interest over a period, based on a compounding interest rate... any ideas |
#3
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compound interest
On Nov 7, 7:17*am, martinbarnes
wrote: i'm trying to set up a formula that calculates interest over a period, based on a compounding interest rate... any ideas Click on Help Excel Help and enter "compound interest", and you should get lots of ideas. If you are still stumped, post a follow-up with a specific example. Suppose you deposit $1000 into an account that earns 3% interest compounded daily. After a typical year, the account balance will be: =round(fv(3%/365, 365, 0, -1000), 2) If you want just the interest: =round(fv(3%/365, 365, 0, -1000), 2) - 1000 HTH. |
#4
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compound interest
Hi,
FV is designed to calculate the principle and interest accumulated, if you want just the interest then =SUMPRODUCT(IPMT(5%,ROW(A1:A50),50,100)) In this formula 100 is your starting value, 50 is the number of periods and ROW(A1:A50) indicates that you want the interest for all 50 periods. The result is negative by just put a minus sign in front. If this helps, click the Yes button. -- Thanks, Shane Devenshire "martinbarnes" wrote: i'm trying to set up a formula that calculates interest over a period, based on a compounding interest rate... any ideas |
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