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Compounding interst formulas

  1. Aug 22, 2007 #1

    Eph

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    I think I found a simple formula if I was putting in the same amount of money each year, but what if I wanted to start with 1000$, add 10k$ for 10 years, and then watch it compound at X interest; how would i set that up?

    And if you know, can you put this formula into Excell.
     
  2. jcsd
  3. Aug 23, 2007 #2

    CRGreathouse

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    It's very easy to do with Excel -- just have the first cell with the starting amount, then for each cell below it have the interest formula beneath, referring to the cell above as principle, and add in the amount you deposit each year.
     
  4. Aug 23, 2007 #3

    Eph

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    What about if you want to just put in a deposit of say 10k per annum for 10 years but have it still compound at the same yearly rate?
     
  5. Aug 23, 2007 #4

    CRGreathouse

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    Yep, just like I said. Follow the instructions above.
     
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