Is within a formula on Excel for calculating the sum of an statement that compounds interest annually?
Kinda similar to a bond or hoard story, i simply want to see how long it will bring for me to reclaim 1 million if i put 4,000 a year into an article next to a 4% interest. Is in that a formula for this?
Answers:
Check out the "Insert Function" button on the standard toolbar (it kinda looks close to an "fx"). Find the FV function, I imagine that's what you are looking for.
I know excel have tons acounting formulas, although I don't know which one might be right for this situation. I would suggest going to microsoft template site though.
http://office.microsoft.com/en-us/templa...
rummage through for investment
Hi i enjoy your answer!
You will inevitability to build a spready sheet
First colum A put the yrs
Colum B put contained by Formula 4000+D2 etc...
Colum C is your intrest - Formula =B2*0.04
Colum D is total amount - =B2+C2
Put this in by the colums I enjoy showed and you will simply hold to verbs the formulas down to the subsequent rows and they will automatically populate. Do that till you bring back to a Million.
You can convey me an email if you want I will convey the execl spreadsheet already done. This is base every twelve months.
Your Answer is it will give somebody a lift you 61years at this rate to brand a Million. obedient Luck!
It will filch you 61 years. You will be too older to savour it.
But why invest in bonds at 4% when any hill will compensate you 5%? If you invest $5,000 at 5%, it will become a million in 49 years.
Here is the formula
=NPER (4%,-4000,,1000000)
It give you the number of years it take for you to hide away 1 m.
(Insert - Functions - NPER)
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Answers:
Check out the "Insert Function" button on the standard toolbar (it kinda looks close to an "fx"). Find the FV function, I imagine that's what you are looking for.
I know excel have tons acounting formulas, although I don't know which one might be right for this situation. I would suggest going to microsoft template site though.
http://office.microsoft.com/en-us/templa...
rummage through for investment
Hi i enjoy your answer!
You will inevitability to build a spready sheet
First colum A put the yrs
Colum B put contained by Formula 4000+D2 etc...
Colum C is your intrest - Formula =B2*0.04
Colum D is total amount - =B2+C2
Put this in by the colums I enjoy showed and you will simply hold to verbs the formulas down to the subsequent rows and they will automatically populate. Do that till you bring back to a Million.
You can convey me an email if you want I will convey the execl spreadsheet already done. This is base every twelve months.
Your Answer is it will give somebody a lift you 61years at this rate to brand a Million. obedient Luck!
It will filch you 61 years. You will be too older to savour it.
But why invest in bonds at 4% when any hill will compensate you 5%? If you invest $5,000 at 5%, it will become a million in 49 years.
Here is the formula
=NPER (4%,-4000,,1000000)
It give you the number of years it take for you to hide away 1 m.
(Insert - Functions - NPER)