Hi people,
I'm new to this excel stuff. I am trying to make a 12-month budget plan, and
one of the tasks was to increase an expense by 5%. So like for january I
start with $50 and then I have to increase the next month by 5%. Is there a
formula for this? I need help!! ASAP!!!
Thanks.

"Dee" wrote:
So like for january I start with $50 and then I
have to increase the next month by 5%. Is there
a formula for this?

Yes. If the Jan amount is in A1, and Feb should be 5% more, computed in A2,
the formula would be:

=ROUND(A1*(1+5%),2)

If you copy that formula down the column, each month will be 5% greater than
the previous month.

But that is not usually what is meant by "make a 12-month budget plan, and
one of the tasks was to increase an expense by 5%". Expenses do not usually
grow one month to the next by a percentage.

More typically, you start with the previous 12 months of expenses in, say,
A1:A12, and in B1:B12, you want to compute the next 12 months of expenses,
which are estimated to be 5% more than the corresponding month in the
previous year. Thus, in B1 you would write:

=ROUND(A1*(1+5%),2)

and copy down through B12. The formula looks the same; but the behavior is
very different.


----- original message -----

"Dee" wrote:
Hi people,
I'm new to this excel stuff. I am trying to make a 12-month budget plan, and
one of the tasks was to increase an expense by 5%. So like for january I
start with $50 and then I have to increase the next month by 5%. Is there a
formula for this? I need help!! ASAP!!!
Thanks.

Thank you so much.
But sorry it sort of didn't make sense. If I'm starting the month of January
in B18 and February is in C18 then the formula would be =ROUND(B18*(1+5%),2)?
is that correct?

"Joe User" wrote:

"Dee" wrote:
So like for january I start with $50 and then I
have to increase the next month by 5%. Is there
a formula for this?

Yes. If the Jan amount is in A1, and Feb should be 5% more, computed in A2,
the formula would be:

=ROUND(A1*(1+5%),2)

If you copy that formula down the column, each month will be 5% greater than
the previous month.

But that is not usually what is meant by "make a 12-month budget plan, and
one of the tasks was to increase an expense by 5%". Expenses do not usually
grow one month to the next by a percentage.

More typically, you start with the previous 12 months of expenses in, say,
A1:A12, and in B1:B12, you want to compute the next 12 months of expenses,
which are estimated to be 5% more than the corresponding month in the
previous year. Thus, in B1 you would write:

=ROUND(A1*(1+5%),2)

and copy down through B12. The formula looks the same; but the behavior is
very different.


----- original message -----

"Dee" wrote:
Hi people,
I'm new to this excel stuff. I am trying to make a 12-month budget plan, and
one of the tasks was to increase an expense by 5%. So like for january I
start with $50 and then I have to increase the next month by 5%. Is there a
formula for this? I need help!! ASAP!!!
Thanks.

"Dee" wrote:
If I'm starting the month of January in B18
and February is in C18 then the formula
would be =ROUND(B18*(1+5%),2)?
is that correct?

Yes. With the caveat that if you put that into C18 and copy across through
M18 (for 12 months), you will be increasing expenses by 5% each month.

That makes little sense to me with respect to a budget, at least a personal
budget. But if this is part of a business plan, I guess one might assume,
under some circumstances, that expenses increase as sales increases, and you
might be anticpating a sales increase of 5% per month.

Anyway, that goes beyond the Excel question.


----- original message -----

"Dee" wrote:
Thank you so much.
But sorry it sort of didn't make sense. If I'm starting the month of January
in B18 and February is in C18 then the formula would be =ROUND(B18*(1+5%),2)?
is that correct?

"Joe User" wrote:

"Dee" wrote:
So like for january I start with $50 and then I
have to increase the next month by 5%. Is there
a formula for this?

Yes. If the Jan amount is in A1, and Feb should be 5% more, computed in A2,
the formula would be:

=ROUND(A1*(1+5%),2)

If you copy that formula down the column, each month will be 5% greater than
the previous month.

But that is not usually what is meant by "make a 12-month budget plan, and
one of the tasks was to increase an expense by 5%". Expenses do not usually
grow one month to the next by a percentage.

More typically, you start with the previous 12 months of expenses in, say,
A1:A12, and in B1:B12, you want to compute the next 12 months of expenses,
which are estimated to be 5% more than the corresponding month in the
previous year. Thus, in B1 you would write:

=ROUND(A1*(1+5%),2)

and copy down through B12. The formula looks the same; but the behavior is
very different.


----- original message -----

"Dee" wrote:
Hi people,
I'm new to this excel stuff. I am trying to make a 12-month budget plan, and
one of the tasks was to increase an expense by 5%. So like for january I
start with $50 and then I have to increase the next month by 5%. Is there a
formula for this? I need help!! ASAP!!!
Thanks.