Financial formulas

[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

 

[kassie]

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

 

[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