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Thread: Compounding - must be an easier way

  1. #1

    Compounding - must be an easier way



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    Can anyone help me?

    I trying to calculate the compounding interest over a period of 3 years but I want to know what the total is on a month by month basis. I also need to be able to add more in at any month.

    Basically if I have a bank account giving 3% interest and I start off with 100 I would like a row that tells me what the balance would be at any month with the ability to add to the balance of any month an additional amount.

    I have a worksheet than can calculate this if I create a table but I have to add another row every time I wish to add some money in.

    Can this be done with a formula instead as the table could go on forever?

    I have attached the sheet that I have done so far.

    Many thanks in advance if anyone can help.
    Attached Files Attached Files

  2. #2
    Super Moderator NBVC's Avatar
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  3. #3
    Worked example
    Attached Files Attached Files

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