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how to calculate simple monthly interest in excel. The following three examples show how the FV function is related to the basic compound interest formula. R Annual interest rate in percentage t Time period in years When calculating simple interest by days use the number of days for t and divide the interest rate by 365.
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R Annual interest rate in percentage t Time period in years When calculating simple interest by days use the number of days for t and divide the interest rate by 365. Its in the upper-left side of the main Excel page. Compound Interest in Excel Formula.
F P 1 rate nper F - FV rate nper P F FV rate nper- P.
Lets see how it can be done. Double-click the Excel app icon which resembles a white X on a dark-green background. In Excel and Google Sheets you can use the FV function to calculate a future value using the compound interest formula. To calculate compound interest in Excel you can use the FV function.
