combo function of adding %

[jenn]

I have a dollar amount of $10 that gets 2.5 percent added to it each year.
How can I make the function to say ' in 8 years the amount will be ... ' if I
had 2.5% each year?

1 2 3 4 5 6 7 8
rate 2.80% 2.80% 2.80% 2.80% 2.80% 2.80% 2.80% 2.80%
$10.00 $10.28 $10.57 $10.86 $11.17 $11.48 $11.80 $12.13
$12.47

 

[ryguy7272]

This is a Future Value problem:
In any cell, enter this:
=FV(0.025,8,0,-1)

The '-' is to force the result to be positive. We assume $1 is going 'out'
(negative cash flow) and in the future we are getting money 'in' (positive
cash flow).

Google around for future value, present value, and cash flows.


HTH,
Ryan---

 

[Ashish Mathur]

Hi,

=10*(1.025^8)

--
Regards,

Ashish Mathur
Microsoft Excel MVP
www.ashishmathur.com