How To Create A Compound Interest Formula In Excel

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Download calculate compound interest in excel gantt chart excel template

Download Calculate Compound Interest In Excel Gantt Chart Excel Template

Compound interest is interest that s calculated both on the initial principal of a deposit or loan and on all previously accumulated interest For example let s say you have a deposit of 1. Assume you put $100 into a bank. How much will your investment be worth after 1 year at an annual interest rate of 8%? The answer is $108. 2. Now this interest ($8) will also earn interest (compound interest) next year. How much will your investment be worth after 2 years at an annual interest rate of 8%? The answer is $116.64. 3.

Calculate compound interest in excel youtube

Calculate Compound Interest In Excel YouTube

How To Create A Compound Interest Formula In ExcelThe tutorial explains the compound interest formula for Excel and provides examples of how to calculate the future value of the investment at annual, monthly or daily compounding interest rate. You will also find the detailed steps to create your own Excel compound interest calculator. To calculate compound interest in Excel you can use the FV function This example assumes that 1000 is invested for 10 years at an annual interest rate of 5 compounded monthly In the example shown the formula in C10 is FV C6 C8 C7 C8 0 C5 The FV function returns approximately 1647 as a final result