Step 1 We need to name cell E3 as Rate by selecting the cell and changing the name using Name Box. A Total loan amount. Breaking Down the Formula.
This means that you will not earn an interest on your interest.
Principal x Rate x Time Interest p x r x t. To solve the equation youll need to find the numbers for these values. Calculating Compound Interest on Investments 1. Extracting the Givens Setting Up the Formula.