M
martinbarnes
i'm trying to set up a formula that calculates interest over a period, based
on a compounding interest rate... any ideas
on a compounding interest rate... any ideas
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
M
Mike H
have a look in help at the FV function.
Mike
Mike
J
joeu2004
i'm trying to set up a formula that calculates
interest over a period, based on a compounding
interest rate... any ideas
Click on Help > Excel Help and enter "compound interest", and you
should get lots of ideas.
If you are still stumped, post a follow-up with a specific example.
Suppose you deposit $1000 into an account that earns 3% interest
compounded daily. After a typical year, the account balance will be:
=round(fv(3%/365, 365, 0, -1000), 2)
If you want just the interest:
=round(fv(3%/365, 365, 0, -1000), 2) - 1000
HTH.
S
ShaneDevenshire
Hi,
FV is designed to calculate the principle and interest accumulated, if you
want just the interest then
=SUMPRODUCT(IPMT(5%,ROW(A1:A50),50,100))
In this formula 100 is your starting value, 50 is the number of periods and
ROW(A1:A50) indicates that you want the interest for all 50 periods. The
result is negative by just put a minus sign in front.
If this helps, click the Yes button.
FV is designed to calculate the principle and interest accumulated, if you
want just the interest then
=SUMPRODUCT(IPMT(5%,ROW(A1:A50),50,100))
In this formula 100 is your starting value, 50 is the number of periods and
ROW(A1:A50) indicates that you want the interest for all 50 periods. The
result is negative by just put a minus sign in front.
If this helps, click the Yes button.