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how to calculate compound interest daily in excel. We will use the FV excel formula to calculate compound interest. Collect the necessary information.
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As with all Excel formulas instead of typing the numbers directly into your compound interest formula you can use references to cells containing numbers. One of the easiest ways is to apply the formula. In the example shown the formula in C10 is.
In our example the formula is A2 1B2 where A2 is your initial deposit and B2 is the annual interest rate.
FV function stands for Future Value returns the future value of an investment based on periodic constant payments and a constant interest rate. ADaily compound rate PPrincipal amount RRate of interest NTime period. To access FV function we can go to Insert Function which is beside the formula bar or type sign where we need to see the result. The basic compound interest formula for calculating a future value is F P 1 rate nper where F the future accumulated value P the principal starting amount rate the interest rate per compounding period.
