Compound interest question
an anyone please advise how I may do the following?
A sum of money is invested for 5 years - at the end of that 5 years interest is paid ( a known amount) How can I work out what rate of interest has been paid if no withdrawals have been made i.e the rate of compound interest paid. -- Cheers Peter |
Compound interest question
Hi Peter,
Look at the RATE() function See HELP for details -- Kind regards, Niek Otten "Peter" wrote in message ... an anyone please advise how I may do the following? A sum of money is invested for 5 years - at the end of that 5 years interest is paid ( a known amount) How can I work out what rate of interest has been paid if no withdrawals have been made i.e the rate of compound interest paid. -- Cheers Peter |
Compound interest question
On Sun, 11 Dec 2005 20:22:57 +0100, "Niek Otten"
wrote: Hi Peter, Look at the RATE() function See HELP for details Hi Nic, Thanks very much for your suggestion - I've tried it, but can't get it to work. The help example seems to refer to a loan that is being paid back on a monthly basis. I have a sum of money, invested on a date, say 1 April and want to know what the rate of growth on that sum has been over 5 yrs. |
Compound interest question
=RATE(5,0,-1000,1500)
gives 8.45% -- Kind regards, Niek Otten "Peter" wrote in message ... On Sun, 11 Dec 2005 20:22:57 +0100, "Niek Otten" wrote: Hi Peter, Look at the RATE() function See HELP for details Hi Nic, Thanks very much for your suggestion - I've tried it, but can't get it to work. The help example seems to refer to a loan that is being paid back on a monthly basis. I have a sum of money, invested on a date, say 1 April and want to know what the rate of growth on that sum has been over 5 yrs. |
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