Category: Computers > Software
Asked by: regino-ga
List Price: $10.00
08 Nov 2006 21:49 PST
Expires: 08 Dec 2006 21:49 PST
Question ID: 781253
Hello I am trying to come up with some mutipliers that would represent the future value of a number i.e., let's say that I wanted to know how much $5000.00 would be worth if it returned 5%, simple interest, after 5 years, 10 yrs, 15 yrs. The same for 6%, 7%, 8%, 9%, 10%, 11%, 12%, 13%, 14% and 15%. I don't know if I am making myself clear here or not but what I need is the multiplier so that I can let Excel do all the work.
Answered By: omnivorous-ga on 09 Nov 2006 10:59 PST
Regino: The interest compounding works as you've outlined. For five years at 5%, the factor used to multiple an investment would be: 1.05 * 1.05 * 1.05 * 1.05 * 1.05 = (1.05)^5 -- that's 1.05 to the 5th power, a shorthand mathematical notation that Excel accepts as well. The factors at 5% for each period are: 5 years: 1.276281563 10 years: 1.628894627 15 years: 2.078928179 I've put together an entire table for you for the three time periods and interest rates from 5% to 15%: http://www.mooneyevents.com/interestrates.xls Best regards, Omnivorous-GA
rated this answer:
and gave an additional tip of:
Thank you very much. You did a great job.
|There are no comments at this time.|
If you feel that you have found inappropriate content, please let us know by emailing us at firstname.lastname@example.org with the question ID listed above. Thank you.
|Search Google Answers for|