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#1
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Percentage formula's
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. |
#2
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Using your example I got:
30,000 first year 33,504 second year 37,416 third year 41,786 fourth year 46,666 fifth year 52,116 sixth year 58,203 seventh year 65,000 eighth year using a fixed 11.67869% raise for each year. 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, but I haven't taken that course yet.) -- Gary''s Student "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. |
#3
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Stormy,
This is called compound growth. In cell A1, put 30000. In cell A2, put the formula =A1*((65000/30000)^(1/8)) or =A1*((65000/30000)^(1/7)) (Not clear what you mean by eight steps: eight steps or 8 values in stepped manner) Copy cell A2, and copy down for another 6 or 7 cells, until the last value is 65000. HTH, Bernie MS Excel MVP "Stormy Weather" <Stormy wrote in message ... 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. |
#4
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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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