A P 1 rn nt. General Compound Interest Formula for Daily Weekly Monthly and Yearly Compounding A more efficient way of calculating compound interest in Excel is applying the general interest formula. You already know the answer.
How to calculate compound interest in Excel To compute the compound interest in Excel for different time periods all you have to do is convert the formula above into a relatable formula in Excel.
Where P Principal Amount. To use the compound interest formula you will need figures for principal amount annual interest rate time factor and the number of compound periods. General Compound Interest Formula for Daily Weekly Monthly and Yearly Compounding A more efficient way of calculating compound interest in Excel is applying the general interest formula. For daily compounding the interest rate will be divided by 365 and n will be multiplied by 365 assuming 365 days in a year.