PV FV1r n. Put simply compound interest changes the amount of. The trick to using a spreadsheet for compound interest is using compounding periods instead of simply thinking in years.
Its important to have at least a basic understanding of how a company or bank determines the interest rate you earn on your money on deposit.
It covers how to approach calculator and non-calculator questionsPractice Questions. FV PV 1rn. It covers how to approach calculator and non-calculator questionsPractice Questions. Firstly by calculating the amount of interest earnt each year and adding up all the amounts.