![]() The balance for year 0 is $1,000, so you would enter "1000" into cell B2. Enter years 0 to 5 into cells A2 through A7. In Microsoft Excel, enter "Year" into cell A1 and "Balance" into cell B1. Suppose you deposit $1,000 into a savings account with a 5% interest rate that compounds annually, and you want to calculate the balance in five years. The first way to calculate compound interest is to multiply each year's new balance by the interest rate.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |