Excel Tutorial - How to form a Compounding Interest Financial Calculator

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You can found an roughly infinite range of calculators right within your Ms Excel spreadsheet application.

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How is Excel Tutorial - How to form a Compounding Interest Financial Calculator

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Here is how you can found your own 10-year compounding interest financial calculator that would help you to see, for example, how much your 0 will grow at x percent of interest a year, on a year by year basis.

1) start a clean worksheet in Excel.

2) retain the cell A1 for your significant dollar amount. Think of this as your "deposit" in the bank.

3) retain the cell B1 for your each year interest rate (entered as a decimal number like 5.6 or 34.8, etc).

4) In cell C1, enter the following formula into the text input bar just above the spreadsheet and then click the green check-box icon to save the formula into cell C1:

=A1 + ((A1/100) * B1)

This formula will take the number you enter into cell A1, divide it into 100, and then multiply it by the each year interest rate B1, and then add it to the former A1 number to give you the total Compounded number at the end of year one. For example, for 0 of deposit (A1) at 5% a year (B1), the C1 value should be should be 5.

Now here comes the challenging part.

5) Click and go for cell C1 so that Excel should display a black rectangle colse to the cell. When you bring your cursor to the lower right projection of the cell, your cursor should turn into a dark and slim plus sign ("+").

6) Click and drag the cell C1 down as many cells as you want along the C column. This automatically copies the formula in C1 to all the other cells - but not perfectly. Now you need to adjust each formula slightly.

If you click on the unadjusted cell C2, you will see the following formula:

=A2+((A2/100)*B2)

7) convert this by replacing all "A2"s with "C1" because you would like to have the C1 number get compounded, not the number in A2 (which is empty).

So the strict formula for C2 becomes:

=C1+((C1/100)*B1)

Similarly, the strict formula for C10 becomes:

=C9+((C9/100)*B1)

Now your calculator is ready for testing.

Plug in 100 for A1 and 5 for B1 and you'll have 2.8 dollars at the end of 10 years.

What if the interest rate went up by one percent to 6%? convert B1 to 6 and you will have 9 dollars at the end of 10 years.

You can certainly stretch this calculator to 20 or 30 years by adding the significant added rows to column C and adjusting the formula for each cell accordingly, as explained above.

Happy savings!

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