Compound Interest - Total Amount

[Guest]

\$100 is deposited into an account. The interest is compounded annually at 8.5 %. Determine amount after 100 years.


Compound Interest Formula:

A = P(1 + R/N)^NT

A = Amount after time T
P = Principal Amount
R = Annual Interest Amount
N = Number of times interest compounded per year
T = Number of years

P = \$100
R = 0.085
N = 1
T = 100

I have the answer. How do I enter the formula into the spreadsheet ?

[Guest]

this is copy of spreadsheet...

[Guest]

Thanks again.

[Guest]

I copied formula info into an excel spreadsheet but received an error.

[Guest]

Had an error in formula entry. Working now.

Question:

How would I copy formula for amounts for each year ? I know that is a lot of copying.

[Guest]

You would copy and paste and fill as you did in the earlier questions. Read the help in excel. Copy and paste is the most basic thing you need to be able to do.

[Guest]

Thanks again.

[Guest]

The formula didn't work. I keep getting errors.

[Guest]

You need to explain what errors you are getting.

Are you using the same cells?

[Guest]

" Are you using the same cells? " Yes.

" You need to explain what errors you are getting. " Circular errors about formula. Also, it took approx. 15 minutes to enter the years from 1 to 100. When I attempted to drag down, the popup menu kept changing from "fill cells" menu to "copy cells" menu. In addition, the "Help" file and "?" file aren't very helpful.

[Guest]

Put the dollar signs in the cell C10 to give.....
=C\$5*(1+(C\$6/C\$7))^(C\$7*C\$8)

The dollars are anchors or absolute cell addresses and dont change the value of the formula, so when you copy to C13 its still the same answer, because refs to same cells as before.

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.

Now all you need to do if fill down the years 1 to 100 and copy the C13 cell down along side them... only 2 operations
a fill down series
a copy cell to range of cells

Should take no longer than 30 seconds.

[Guest]

I still say I have a piece of junk.

[Guest]

Same errors.

[Guest]

Thanks anyway. I guess a spreadsheet isn't meant for me.

[Guest]

" You need to explain what errors you are getting. " Circular errors about formula. [ what errors are you getting...] Also, it took approx. 15 minutes to enter the years from 1 to 100. [ I assume you mean it took 15 seconds, it is just one copy fill operation]When I attempted to drag down, the popup menu kept changing from "fill cells" menu to "copy cells" menu.[ just do simple copy] In addition, the "Help" file and "?" file aren't very helpful.
[ post the actual errors you get and post the help statements you dont understand]

[Guest]

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.

If not post what you are getting.......

[Guest]

When I added the dollar signs to the formula, the amount changed to 108.50 first year. I can't get formula to copy. The time was 15 minutes to add 10 to 100 also.

Thanks anyway.

[Guest]

=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........This formula above should have the same total for 100 years as original formula gave....349119.27


This formula below is it edited to now include B13 which is the 1st of the years......and it should give 108.50......the amount after 1st year.
=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.

=C\$5*(1+(C\$6/C\$7))^(C\$7*B13).....this is the formula that needs to be copied down. Click on the cell, click Copy, select all the cells in C column from below the formula to in line with the 100th year ( select by left click and drag down and release left mouse when on the last cell, no menus should popup), then click paste and all the formulas for 100 years should copy in in one click of paste.

[Guest]

None of your last post works. I can't use a spreadsheet.

[Guest]

The lines below are copied from another thread............I assume they are yours because they ask the same type of question
I thought you got it working there................The process is the same here...........

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Did you read the help for filling cells with data....
Depending on the version of Excel, some versions work slightly differently.......
In some versions Fill down may not increment the numbers but should fill the list with the same number as is at the top of the list.

If you use the menu it may work better...and there are other options such as "fill series" where you specify the step or increment and the value to stop at.

Fill Series............you have already 1 and 2 entered in cells A2 and A3.
Click on A3, Find "Fill" on the menu, find the option "Series", a window should open with options to pick, Click on columns, step value...enter 1, Stop value....enter 60, click OK, and the column A should fill with the numbers 1 up to 60.

To copy of the formula is just a simple copy of the formula cell to any selected or highlighted range of cells.
Click on B3, click copy, click on B4, hold left mouse and drag down the B column to beside the number 60 in A column, release the left mouse, the formulas should copy down and all the percentages worked out.
0

Guest

Top
Re: Mixture - Ounces Added
Postby Guest » Sat Mar 05, 2016 7:29 pm

Sorry, I left out a step..........

Click on B3, click copy, click on B4, hold left mouse and drag down the B column to beside the number 60 in A column, release the left mouse, Click Paste, the formulas should copy down and all the percentages worked out.
0

Guest

Top
Re: Mixture - Ounces Added
Postby Guest » Sat Mar 05, 2016 8:08 pm

I have Excel Starter. The "Fill Series" worked.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx