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How do I calculate interest?
I want to create a spreadsheet that shows my kids the power of
compounded interest. I want to show them what regular deposits against a specific monthly interest rate results in, at the end of the year. I want to have the interest rate in cell A1 and starting in row 5, in column A I have the date of deposit and in column B I have the deposited amount. Then I want to have a total that calculates the updated balance including the compounded interest rate each month. Any suggestions? TIA! Robert |
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