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Increasing a percentage every year automatically

  1. #1
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    Increasing a percentage every year automatically

    Hello,

    I was wondering if there was a formula that will take a price in say A2 and add 3% per year to current year.

    So for every year in-between current year and 2017 a 3% increase would have been added. Then next year the price would change to have another 3% automatically.

    I have formulas to get the year 2017 and current year displayed in A1,B1 and have tried to use yearfrac function to make the difference in years automatically.


    Any help would be very appreciated.

    This might have be done in vba if i cant use a formula i am thinking.

    Thanks for any help.

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    Re: Increasing a percentage every year automatically

    Try

    a2=Start value

    in B2

    =$A2*(1+0.03)^COLUMN(A1)

    copy across row

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    Re: Increasing a percentage every year automatically

    Not sure if I read correctly. If A1=2017, B1=Current Year, A2=Start Value, then B2=A2*(1+3%)^(B1-A1).

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    Re: Increasing a percentage every year automatically

    Hello, yeah i think you got it correct

    So in A2 down the column will be all the 2017 prices and with a 3% increase per year so in 2018, 2019, 2020 and 2021 B2 would show the new price. with all those increases added up to show the current price.

    In my excel the formula you used came up with an error

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    Re: Increasing a percentage every year automatically

    Hello, thank you for replying your formula works but only gave a single 3% increase even though there have been 4 years.

    As B1 has the formula to show the Today() but only display the year as ever year another 3% is added on to the price. So in 2022 the price should automatically add another 3 % and be using the difference between 2017 and current year to add up how many 3% to add up. As 2018 the price would be 1030 from 1000 in 217, then in 2019 the price would be 1060.90 and so on as i only need the price for current year.

    So in A2 down the column will be all the 2017 prices and with a 3% increase per year so in 2018, 2019, 2020 and 2021 B2 would show the new price. with all those increases added up to show the current price.

    Hope that help explain it a little better

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    Re: Increasing a percentage every year automatically

    See my first post (#2)





    Compound interest formula
    Attached Files Attached Files

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    Re: Increasing a percentage every year automatically

    ah ok, i get it now

    I didn't want to show the years in between though, but thank you for your help.

  8. #8
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    Re: Increasing a percentage every year automatically

    Just change the COLUMN section to the number of years' growth you want:

    =$A2*(1+0.03)^7 (for 2024)

    AliGW on MS365 Insider (Windows) 32 bit
    A
    B
    1
    2017
    2024
    2
    1000.00
    1229.87
    Sheet: Sheet1

    AliGW on MS365 Insider (Windows) 32 bit
    B
    2
    =$A2*(1+0.03)^(B1-A1)
    Sheet: Sheet1
    Ali


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    Re: Increasing a percentage every year automatically

    Hello Thanks for your help

    I have now got the solution =$E2*(1+0.03)^DATEDIF($S$2,TODAY(),"Y") and it seems to work.

    Thank you

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    Re: Increasing a percentage every year automatically

    If that takes care of your original question, please select Thread Tools from the menu link above and mark this thread as SOLVED.

    Also, you may not be aware that you can thank those who have helped you by clicking the small star icon located in the lower left corner of the post in which the help was given. By doing so you can add to the reputation(s) of all those who helped.

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