Compound Interest - Total Amount

[Guest]

It didn't work this time.

[Guest]

I have done a complete example of 10 years attached......Hopefully it is well enough explained........

[Guest]

Thanks. I will try that.

[Guest]

I got the spreadsheet to work using your examples. There was an error in your first formula. I had to remove the parentheses next to the second B.

Thanks for the helpful examples.

[Guest]

I have looked over the earlier postings and I don't see the error you refer to.
Please post more detail of the error and where the error is so that I can see it.

[Guest]

Your formula:

=B$1*(1+(B$2/B$3) ^ (B$3*B4)

Corrected Formula:

=B$1*(1+B$2/B$3) ^ (B$3*B4)

[Guest]

This is one of the earlier posting.....
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You don't want to use C8 any more for years so change it in the C13 formula to B13 which is cell for each year.
=C$5*(1+(C$6/C$7))^(C$7*B13) ...and no anchor on B13 because you want it to change as each row is copied. C13 should now show 108.50.

=C$5*(1+(C$6/C$7))^(C$7*C$8) .......when you copy this formula using simple copy to cell C13, does it still have the same answer total as at the previous cell

=C$5*(1+(C$6/C$7))^(C$7*B13)......when you edit the formula to same as this [ by change C$8 to B13] does the cell now read 108.50.
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As you can see it does not include the formula that you say is incorrect

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This is the formula below that you say in incorrect......Yes, it is incorrect, but it is not in any of the earlier postings. You must have typed in incorrectly.

=B$1*(1+(B$2/B$3) ^ (B$3*B4)........wrong......
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Your Corrected Formula....below....

=B$1*(1+B$2/B$3) ^ (B$3*B4)........Yes, this is correct, and it is mathematically the same as the one posted earlier for this question, but it uses less brackets, which is OK because excel uses the rules of BOMDAS or BODMAS and will do the B$2/B$3 before adding the +1. All my formula was doing was enclosing (B$2/B$3) to space it out as a separate bit before the +1 was added.....the sum is the same and all my spreadsheets using it all gave the correct answer. What you typed in is clearly incorrect and would give the wrong answers, (I thought maybe a typo error on your behalf, but now that that you have posted it you must not have seen that the formula you entered was wrong and was giving the wrong answer.

All of the formula in the jpg spreadsheets are correct and give the correct answer.

[Guest]

Thanks.

[Guest]

I have another question:

If I wanted to list the interest each year in another column, how would the formula be edited ? I could use "Interest" as the column heading. I am confused about adding formulas.

[Guest]

The Amounts are in column C

All you need to do is subtract the current year amount from the previous year amount
There is already text in columm D, so use column E

Put interest in column E
In E8 put [=C7-C8]
don't need the [] brackets
and copy the formula down along the whole list

[Guest]

In E8 put [=C7-C8].....wrong

Sorry, It should be the other way around.............

In E8 put [=C8-C7]......correct

[Guest]

and this bit reads wrong as well.............

All you need to do is subtract the current year amount from the previous year amount.....wrong way around

All you need to do is subtract the previous year amount from the current year amount

[Guest]

Thanks again.

[Guest]

I subtracted the first year from the second year.

See if you got the same answers:

Year 1 : 9.225
Year 2 : 10.00641
Year 3 : 10.85696
Year 4 : 11.7798
Year 100 : -349119

[Guest]

Are you sure you are really trying to do things correctly. Did you read over the earlier posted jpg spreadsheets and my other explanations.
Attached is jpg copy of the interest listing each year.

[Guest]

Correction, I have C7-C4 in as the first formula.....I should be C7-C1.....
Because.....C4 is actually 100 years...just happens to be 100 same as principal.

So as starting amount principle is 100 in C1.....The formula for the 1st line should be C7-C1

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[Guest]

I was trying to do things correctly. I used the wrong numbers. I have the same numbers as you now.

Thanks again.

[Guest]

And were you able to put in the interest each year formula by copy and paste without having to type each line..??

[Guest]

" And were you able to put in the interest each year formula by copy and paste without having to type each line..?? " I used the formula for the second year, then used the fill handle all the way down.

[Guest]

yes, thats it