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how to make a compound interest formula in excel. N is the number of investment periods for example 36 months 3 years etc. To calculate compound interest in Excel you can use the FV function.
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Assume you put 100 into a bank. The basic Excel formula for compound interest is this. For the formula for compound interest just algebraically rearrange the formula for CAGR.
Amount 1.
Supposing there is 1000 initial principal in your account and the interest rate is 8 per year and you want to calculate the total interest in ten years later. Where n Number of years of investment. For daily compounding the interest rate will be divided by 365 and n will be multiplied by 365 assuming 365 days in a year. Step 1 We need to name cell E3 as Rate by selecting the cell and changing the name using Name Box.
