Best Math Formula website. Search anything about Math Formula in this website.
how to calculate compound interest monthly in excel. To calculate monthly interest rate the formula in C6 is. It can be handy to visualize compound interest by creating a simple model in Excel that shows the growth of your investment.
Pin On Monthly Budget from in.pinterest.com
There is no special function for compound interest in Excel. Enter your principal in cell B2. RATE C212 C3C4 Please note that C2 contains the number of years.
FV PV 1rn where FV is future value PV is present value r is the interest rate per period and n is the number of compounding periods.
It can be handy to visualize compound interest by creating a simple model in Excel that shows the growth of your investment. Doing so will calculate the amount that youll have to pay in interest for each period. Monthly Compound Interest P 1 R 1212t P. Enter the years 0-5 in cells A2 to A7.
