Formula to calculate cumulative interest

M

mam

I want to calculate the amount of interest which would be earned over a
number of years. I will be starting with a base amount (say $25,000) which
will earn 8% interest compounded annually. I tried using the ACCRINTM
formula, but it isn't giving me the correct amount (which I figured out
manually).

My manual calculation showed that $25,000 earning 8% interest compounded
annually over 9 years would earn a total of $24,975 of interest. What
formula can I use to get Excel to do the calculation for me?
 
J

joeu2004

mam said:
My manual calculation showed that $25,000 earning 8%
interest compounded annually over 9 years would earn a
total of $24,975 of interest. What formula can I use to
get Excel to do the calculation for me?
Click to expand...

=FV(8%, 9,, -25000) - 25000
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Similar Threads

Variable interest rate loan calculations- PLEASE HELP!!! 1
EXCEL 2007 Formula to calculate INTEREST only on a 3 month bridge 3
Calculating Future Value 8
Formula for payout & interest 3
Compound interest with premium growing 9
Percentage to Get Invested Return 2
calculating compound interest 1
Loan amortization schedule for variable interest rates 5

Top