Title: Simple vs Compound Interest Author: Timothy R. Last modified by: Timothy R. Created Date: 6/20/2007 10:06:07 PM Company. Compound interest calculator is highly useful to determine the increase of your savings affected by the compound interest and also the overall compounded interest. Compound interest apparently has been existed since the early human civilization. If you wish you can download this advanced all in one compound interest excel calculator here. Do let me know if you have comments & share the post if you liked this. Chart the growth of your investments with our compound interest calculator. Download a free Savings Interest Calculator for Microsoft Excel. Determine how.
How to calculate compound interest in Excel?
If you have a bank account which may have its interest compounded every year, and ten years later, how much total interest can you get from your account? In this case, I talk about how to calculate the compound interest in Excel.
Compound interest arises when interest is added to the principal of a deposit or loan, so that, from that moment on, the interest that has been added also earns interest.
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In Excel, here is a formula that can help you to quickly calculate the compound interest.
Supposing there is $1000 initial principal in your account and the interest rate is 8% per year, and you want to calculate the total interest in ten years later.
Select a blank cell, and type this formula =1000*(1+0.08)^10 into it, then click Enter button on the keyboard, you will get the total compound interest.
Tip: In the above formula, 1000 indicates the initial principal of your account, 0.08 stands the interest rate every year, 10 is the number of account investment periods, and you can change them as you need.
Calculate compound interest by Function in Excel
In addition to the formula, you also can use Function to calculate the compound interest.
Serial advanced systemcare 10. Supposing there is $1000 initial principal in your account with 8% interest rate per year, and you want to calculate the total interest in ten years later.
1. Type the initial principal data, interest rate, and period into cells, in this instance, I type them to B1, B2 and B3 separately. See screenshot:
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2. Hold ALT button and press F11 on the keyboard to open a Microsoft Visual Basic for Application window.
3. Click Insert > Module, and copy the VBA into the module.
VBA: Calculate compound interest
4. Save the code and close the window, then in a blank cell, for instance, the Cell B4, type =YearlyRate(B1,B2,B3) (B1 indicates initial principal, B2 is interest rate, B3 stands the number of periods, you can change them as you need), then press the Enter Migrate pc to mac download. Video editor for mac movavi. key. See screenshot:
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Wonder what your 401(k) balance could be by the time you retire? Our free 401k Calculator for Excel can help you estimate how much you could have after investing for a certain number of years. It takes into account your existing balance, annual raises in your salary, your employer's contributions, and the estimated rate of return.
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Other VersionsTemplate DetailsLicense: Personal UseCompound Interest Calculator Spreadsheet(not for distribution or resale)
'No installation, no macros - just a simple spreadsheet' - by Jon Wittwer
Description
Estimate your future 401(k) balance. Enter your current age, age at retirement, your current balance, annual salary, expected annual raise in salary, your annual contribution/investment, your employer's matching contribution, and the expected annual rate of return.
One of the unique features of this calculator is the option to specify a random rate of return - one that changes from year to year. Ever wonder how a fluctuation in the market could affect your investment? Just press F9 a bunch of times to see how the graph of the balance changes.
You can also track your 401(k) balance over time using the Balance worksheet included in the workbook (see the screenshot on the left). It shows a graph comparing your contributions, your employer contributions, and the overall value of the account.
See the new Simple Investment Tracker spreadsheet if you would like a way to track multiple investment accounts in the same spreadsheet. Canon lbp3000 driver mac os x.
Update 11/16/2018: I updated the labels and comments for the Employer Match section so it is more clear how to specify the limit on the employer match.
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Disclaimer: This spreadsheet and the information on this page is for illustrative and educational purposes only. We do not guarantee the results or the applicability to your unique financial situation. You should seek the advice of qualified professionals regarding financial decisions.
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