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how to calculate compound interest with monthly contributions in excel. Rate the interest rate per compounding period. The formula for compound interest is P 1 rn nt where P is the initial principal balance r is the interest rate n is the number of times interest is compounded per time period and t is the number of time periods.
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Add a percent sign after the figure to tell Excel to treat it as a percentage. Nper the total number of compounding periods. As with all Excel formulas instead of typing the numbers directly into your compound interest formula you can use references to cells containing numbers.
Nper the total number of compounding periods.
Monthly Compound Interest Formula. Heres what those five boxes mean. Add a percent sign after the figure to tell Excel to treat it as a percentage. Suppose we have the following information to calculate compound interest in a table excel format systematically.
