Financial formulas

J

JR573PUTT

I have the following spreadsheet:

year beg bal yr contr int rate int inc ending balance
2006 25000 10000 15% ??

What formula do I use to calculate the interest income
 
K

kassie

You can use: =SUM(B2:C2)*D2, although this does not take into
considerationmotnly interest earnings, but only one annual earning
 
F

Fred Smith

It depends on when you make your yearly contribution. If you make it at the
beginning of the year, the formula is:

=(begbal+yrcont)*intrate

If it's at the end of the year, the formula is:

=begbal*intrate
 

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