What does ^ do in this formula =B8*(1+$C$1)^(($C$3-$C$2)/365)-B8
 

I was sent a spreadsheet that is supposed to calculate interest earned. It
has a character in the middle of the formula that I have not seen before.
What does ^ do in the formula?

What does ^ do in this formula =B8*(1+$C$1)^(($C$3-$C$2)/365)-B8
 

Caret: "^" means "to the power of"
(the exponentiation operator)

Eg: entering in say, A1: =2^4
means to evaluate 2 to the power of 4
i.e: =2 x 2 x 2 x 2 =16
--
Max
Singapore
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xdemechanik
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"frustrated financial person"
om wrote in message
...
I was sent a spreadsheet that is supposed to calculate interest earned.
It
has a character in the middle of the formula that I have not seen before.
What does ^ do in the formula?

What does ^ do in this formula =B8*(1+$C$1)^(($C$3-$C$2)/365)-B8
 

The "^" is the exponentiation function.

In this formula =B8*(1+$C$1)^(($C$3-$C$2)/365)-B8, it raises (1+$C$1) to
the power of (($C$3-$C$2)/365).

"frustrated financial person" wrote:

I was sent a spreadsheet that is supposed to calculate interest earned. It
has a character in the middle of the formula that I have not seen before.
What does ^ do in the formula?