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excel query

  • 11-03-2012 6:42pm
    #1
    sydthebeat
    Subscribers Posts: 42,171 ✭✭✭✭


    help please, how can i write an excel formula that increases a figure by a percentage rate over a period of time, similar to compound interest??

    i want to increase 4.99 by 4% over 10 years


    thanks


Comments

  • #2
    D'Artagnan
    Registered Users, Registered Users 2 Posts: 35 ✭D'Artagnan


    Not sure I understand you fully but if you want to increase it by 4% per year for ten years then =4.99*(1.04^10)

    However if you are interested in seeing it increase by exactly 4% over ten years and want to know what the annual compound rate is then =1.04^(1/10) where 1.04 represents a 4% total increase and the ^(1/10) is the tenth root. The answer will be 1.00393 which is 0.39% a year

    So I hope one of those two answers your question


  • #3
    shootermacg
    Registered Users, Registered Users 2 Posts: 4,857 ✭✭✭shootermacg


    yep nothing fancy, apply the formula D'Artagnan was kind enough to give you.
    Instead of the 4.99 put the cell coords in eg: [A1], drag down 10 rows for the compound interest for 10 years, each cell is based on the cell above it so the compound is implied.


  • #4
    sydthebeat
    Subscribers Posts: 42,171 ✭✭✭✭sydthebeat


    perfect thanks!!!


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