I am looking to calculate compound interest over a period of 10 years.
I am looking at putting a lump sum in at the beginning and contribute in monthly installments for the entire 10 years. How would I go about this.. I know there are formulas there, however I'm not a financial person at all..
I'm trying to come up with a way of calculating Money earned over time by compounding interest, but with a twist. After reaching a set amount of money, all money above and beyond does not gain interest. example:
Principal: $120 (user input value) Duration: 9 (user input value in days, compounding daily) %Intertest: 4% (user selected value, either 2% or 4%) Max interest you can earn: $6 (fixed) Max interest generating money: $150 (variable dependant on %interest, = $150 or $300) Response/Answer is final value. I don't need the daily results like the example. Result would be: $170.84 $124.80 (4.80 interest) $129.79 (4.99) $134.98 (5.19) $140.38 (5.40) $146.00 (5.62) $151.84 (5.84) $157.84 (6.00 reached the max interest level) $163.84 (6.00) $170.84 (6.00)
my equations I have so far only do one (below 150 total) or the other (above) but not both. and its just a regular formula: =IF(P<M,IF(P*I^D<M+1,P*I^D,"over limit"),P+6*D)........................
Some years ago I came across a formulae to calculate Daily Interest on a Building Society Savings account in the UK. I have used this since but find my calculations never work out the same as my BS, although to my advantage! It is =B3*B4/360*DAYS360(B5,B6,TRUE) Where:
B3=Capital B4=Interest Rate B5=Starting Date B6=Finishing Date
For some reason the formulae uses 360/year and not 365/year. Using both still gives wrong answer.
I have a column of years and a column of numbers representing annual amounts placed in a savings account for the year. I would like to calculate the balance of interest earned added to the balance of the account and then calculate the interest earned on the accumulating amounts each year. The results would be the account balance displayed in an adjoining column. So far, I have not found a worksheet function for that. Could someone point me in the right direction? Perhaps there should be several columns of data?
I am trying to calculate the effective annual interest rate earned on an investment and find the results are close but not really accurate. I suspect because I have not included the frequency of interest in my existing formula
r = n * nt root (A/P-1)
where; r = the effective interest rate n = the number of times interest is added per year t = the total number of years A = the current value P = the original value
The 2 problems I face are; 1. Confirming this formula would provide the correct answer (need maths expert here) & 2. How would "nt root" (as in sqr root, but using the product of the years and frequency) be used in Excel
I am looking for a formula which will compute interest earned (not ending account balance) for the following scenario:
1) Set $ amount (say 19250) is deposited on January 1.
2) Annual interest rate is .95%
3) Interest is compounded daily
4) Fixed withdrawals of $1750 are taken each and every month on the first day of each month
What is the total interest earned on the account? Basically, it is a issue where each month diminishes the "pool" of money earning interest. I get what's going on conceptually, but can't figure out which Excel function to use.
I've found this calc but it doesn't compare to my particular scenario/goals: http://dinkytown.net/java/InvestmentDebt.html. The major difference is that this dinkytown calc requires a new loan to be put in place and I am not in a position to refinance my current mortgage. My plan is to pay an extra $267 (b3) to the mtg (b4). It will take 128 months (b6) to pay off the mortgage. After that point, I need to calculate what the newly freed capital (b5) would do if I put in an account (i.e. a CD or a simple US savings account) that had an Annual Percentage Yield (APY) of 1, 2, and 3% for 20, 15, 10 and 5 years. I thought that I had the right formula in place for cells b7:b8 should the account earn a 0% rate of return, but I think it's faulty since it gives me a negative number for 10 and 5 year accumulation periods.
I have a column of 30 cells, each showing retirement dollars earned based on years of service (cell 1 = year 1, etc) and salary. Here is the predicament: A new hire is brought in with 10 years service, stays 5 and then quits. How do I change only cells 10-14 reflecting his/her salary and retirement dollars? Remember, cell 10 is the first year for the compound interest, cell 11 the second year, etc. I currently use the following formula for cell 10 (compounded salary from cell 9 * (1+.05)^1). Cell 11 is (compounded salary from cell 10 * (1.05)^1.
What I am trying to do is to create a formula for the attached spreadsheet - that calculates the daily compounding interest based on the higher rate of the two rates for the first five years then after 5 years the calculation should only be based solely on the blocked rate.
I currently use goal seek to calculate an interest rate for a loan product. My problem is i would like to have the same function but not through a goal seek. In goal seek i have to set the value i want to achieve but ideally i want it to calculate automatically
I have attached a workbook with details. I use a loan amortization schedule to calculate the interest from parameters set on sheet 1
I have been loaning my brother money over the past 14 months. The loans have been in the form or $1000 per month plus random payments for one-off expenses like doctors fees. He's not paid anything back yet but we want to know what the total owed is for interest of 10% per annum.
I can easily create a table with payments I've made and the dates with a running total of how much I've paid but how to I create a running balance of what he owes over time based on adding in interest. This might end with a one-off payment in a couple of months, I'd like to calculate what is owed there as a minimum.
The way I have this sheet setup is to calculate a 20% fee off the interest earned column "D". Say you earned 6.5% on a beginning balance so the interest earned is in col "D". This works fine for a 20% fee but I need the fee to calculate a 10% fee if the interest in column "C" hit 4% or below and it also needs to be able to calculate a 20% fee if the interested earned is above 4%.
I'm working on a time series dataset with a time step of 15 minutes. I need to calculate daily average of the several variables. So let column "A" be the "date-time" column, let column "B" be the "variable column" and column "C" be the "average column", I need a function that calculated in C1 cell the average of B1 to B95 cells, in C2 cell the average of B96 to B190 cells, in C3 cell the average of B191 to B285 etc.
calculate overtime hours from daily time entries. Normal hours are 7.6 per day Time 1/2 is hours over 7.6 but no more than 2 hours Double Time is all hours over that.
I have the spreadsheet with the days of the week in one row and at the end I have 1 cell for Normal Hours, Time 1/2 and Double Time. I need a formula that will work out overtime off each day and add for all days of the week and enter data into one cell. So all normal hours are in Normal hours and Time 1/2 and Double time are automatically calculated once hours are put in per day manually.
WedThurFriSatSunMonTuesTotal Normal HoursTime 1/2Double Time 10101068
I have a set of 7 years daily rainfall data. I need to calculate the daily average of rainfall from this 7 years data set. I don't wanted to calculate it by for example copying and pasting the first day rainfall of each year rainfall to a new sheet and average it for all the days. I need to calculate it all at a time.
I've set up a simple spreadsheet to keep track of my food expenses every month. The first column is for the date, the second is for the daily total expenses and then the next three columns are where I add the data which is then calculated into the daily total column.
I also have a total at the bottom for the entire month. Now what I want to do is I want to also have underneath the grand total, a cell which keeps track of my average daily expenses. Basically I want to divide the total expenses by the number of days which I've entered data. Now normally this would be fine but because I've applied the formula to all the cells in the expense column, it automatically lists every day as "0" rather than leaving it blank. So when it does the average calculation it's dividing my total by 30 days rather than by only the 7 days I have data for.
I currently have a profit/loss spreadsheet where I use a SUMIF to calculate daily gains/losses.
=SUMIF('Daily Sheet'!B:B,B377,'Daily Sheet'!H:H)
Basically, on the 'Daily Sheet' page when a sale is made I write it in a row. Each sale gets its own row. One of the column's has the date. (Column B) Column H has the respective gain or loss for that sale/purchase. B377 in this case contains the date 18-Nov. (B360 to B389 has Nov 1 through Nov 30) So this cell will calculate all the gains and losses in column H for each sale/purchase entry I have for that day. Some days I have 30 rows, others only 2 or 3, so this works great.
My problem now is that my rows have gotten much more complicated and detailed, and now I'd like to be able to only sum column H:H if it meets TWO criteria. (I'd like to add in Column C that specifies the type of sale or purchase being made, which is R, T or S for my purposes.) So I'd like to somehow write a sumif that only adds up the sales for 18-Nov AND sale type R.
I'm creating an log to track the total number of hours an employee works in one day and calculate regular and overtime hours worked based on the following criteria: overtime will be >8 hours in one day and >40 hours in one week.
Right now I have it 'mostly' figured out, but under certain conditions, it calculates more than 8 hours in one day for straight time. Is there a way to set a maximum value for the straight time cell and have the difference be added to the overtime cell?