I'm sure this must be easy to do but I can't find how.I need a formula to add compound interest to a sum and return a the new total e.g.cell A3 contains 100The result in (say) cell A6 needs to add compound interest at 6% for 5 years and give the total figure including the interest.
FV(rate,nper,pmt,pv,type)Personally I find financial functions a pain in the ass but the help section in Excel may of of some use: lookup "financial".Good luck CD
I think this may work:-Put the starting amount in cell A1Put the interest rate in cell A2 (in decimal form such as 5% is entered as 0.05)Put the number of years in cell A3Then type in cell A4:-=EXP(LN(A1)+(A3)*LN(1+A2))(Note the two brackets at the end)
This has exactly what you want with screenshots:click here
Thanks everyone.All suggestions could have been adapted to meet my needs but the site pc_sausage gave me had the exact calculation that I needed even down to the percentages and period used in the example.Thanks again
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