### Author Topic: Compounding Interest Formula Help Wanted  (Read 1799 times)

#### rawwebdesign

• • Posts: 1 ##### Compounding Interest Formula Help Wanted
« on: January 04, 2014, 06:50:45 PM »
Hi Everyone,

I've been working on an excel spreadsheet to calculate at what date I'll be FI and am having a hard time getting the final formula to work.  Basically, I'm looking for a formula that can calculate:

"at 4% interest per year, how many monthly payments of \$957 will it take to get to \$1,139,000 assuming a starting amount of \$60,090"

Does anyone have any experience with Excel... if so it would be greatly appreciated!

Thanks,

#### Saverocity

• Stubble
•  • Posts: 151 ##### Re: Compounding Interest Formula Help Wanted
« Reply #1 on: January 04, 2014, 07:21:06 PM »
In excel the way I would work it out (which may not be the prettiest) would be to use two columns: A and B. Before doing so I would work out the monthly value of 4% annual so I would calculate 4/12=0.3333333333%

I would put the starting amount in A1, and then in B1 put the following: =A*100.3333333333%
I would then copy/paste B1 into A2, then drag (using the crosshair in the bottom right) both columns down really really far until they hit where I wanted, that would give you a month my month appreciation.

Not pretty, but quick and easy.

#### MilStachian ##### Re: Compounding Interest Formula Help Wanted
« Reply #2 on: January 04, 2014, 09:01:07 PM »
Raw,
Great website for Excel financial functions.

http://www.excel-easy.com/functions/financial-functions.html