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Compounding - must be an easier way

  1. #1
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    Compounding - must be an easier way

    Can anyone help me?

    Iím 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 that 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.

    Iím trying to use an if statement but canít seem to get my head around it

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

  2. #2
    Forum Moderator zbor's Avatar
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    Re: Compounding - must be an easier way

    matt, can you stop oppening same topics all over again?

    http://www.excelforum.com/excel-2007...umulative.html
    http://www.excelforum.com/excel-gene...-interest.html

  3. #3
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    Re: Compounding - must be an easier way

    sorry new to this and i thought the last 2 had been closed due to placing 2 up at the same time. apologies must read the rules next time. finding it quite hard to navigate round..

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    Forum Expert NBVC's Avatar
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    Re: Compounding - must be an easier way

    Your post does not comply with Rule 8 of our Forum RULES. Cross-posting is when you post the same question in other forums on the web. You'll find people are disinclined to respond to cross-posts because they may be wasting their time solving a problem that has been solved elsewhere. We prefer that you not cross-post at all, but if you do (and it's unlikely to go unnoticed), you MUST provide a link (copy the url from the address bar in your browser)to the cross-post. Expect cross-posts without a link to be closed a message will be posted by the moderator explaining why. We are here to help so help us help you!

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    Re: Compounding - must be an easier way

    Ok sorry about that, just looking for help

  6. #6
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    Re: Compounding - must be an easier way

    I have posted this on another forum aswell: http://www.excelguru.ca/forums/showt...-an-easier-way

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