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"Stormy Weather" wrote:
I need a formula for calculating an even percentage amount between a specified range of numbers. This is for a pay plan. For example, the starting salary is $30,000 and the top salary is $65,000; I need a formula that will give the 8 steps from start to top with the exact same percentage - not dollar amount. As I understand it, you want a formula to compute the periodic (annual) rate of change from $30,000 to $65,000 in 8 periods (years). Gary''s Student wrote: I used =(B8/B1)^(1/7)-1 as the formula. Where B8 has the end value (65,000) B1 has the starting value (30,000) and the 7 is one less than the number of rows. (there is probably a simple financial function for this [...]) Normally, the first ("present") value is not one of the steps. Hence, RATE(8,,-30000,65000). If the OP intends the first value to be one of the "steps", I would say he wants the rate of change over 7 periods. Hence, RATE(7,,-30000,65000). |
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