At 07:55 PM 4/26/01 -0400, [EMAIL PROTECTED] wrote:
>I have, unfortunately, lost the formula one of y'all sent
>which enabled one to determine the total amount of money
>resulting when one invests it at a fixed rate for X number
>of years using Excel. Would that person be so kind as to
>repeat it? Thanks.
Here ya go:
FV = PV * (1+IR) ^ n
where FV = future value
PV = present value
IR = interest rate (expressed as decimal: 0.05)
n = number of compounding periods (6)
the ^ symbol is exponential (to the power of)
Duc
