Now that Dave was kind enough to translate the problem into common
financial terms I recognize, finding the FV function is easy.
OR, use the function wizard to accomplish the same.
I've always hated word problems, I could never translate words into math
equations. But the OP asked about calculating compound interest which
is not the same as future value. Calculating FV is definitely an
important first step.
the same formula Dave provided (albeit Dave's formula was much more
helpful), but they go the extra step of showing that the compound
interest is actually the Future Value minus the Present Value.
I had to scratch my head over this a few times and re-read the link
quite a few times before I finally saw the answer sitting there in front
of me. They calculate the interest on $1000 in the example link - show
that FV = 1210, and finally show that the interest ends up being the FV
of $1210 minus the original PV of $1000: so interest earned is $210.
I would never have recognized the formula in the link as being FV, and
so without Dave's help I couldn't have figured any of this out.
On 11/27/2013 04:12 PM, Dave Liesse wrote:
I've had troubles in the past finding specific financial functions, as
well. Can't help from the function standpoint in this case, but you
could always fall back on the actual equation:
FV = PV*(1+i)^n
where FV is future value, PV is present value, i is the periodic
interest rate, and n is the number of periods.
On 11/27/2013 15:10, Cliff Scott wrote:
I haven't done much spread sheet formula work so please don't mind a
of simple questions.
I would like to do two things:
1. Calculate compound interest on an amount given the rate and number of
interest periods. Looking at the list of functions there are lots of
that come close to that, but I wasn't able to find one that would do
2. How do I write a conditional loop in Calc? If I want to calculate a
formula for 10 iterations how would I do that? For instance
Value=Value*N+Value. That would give me the compound interest also. I
it with a bunch of cells strung out each one representing one interest
period, but for any length of time it becomes unwieldy.
Thank you very much for any help.
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