Formula for future value

I am trying to find a formula that will do the following.


I have this information

House Value = 245,000
Date = 8-1-2005
Appreciation = 7% annually


I want to know or estimate, if he gains 7 percent appreciation per year on his home, what is the estimated market value of his home right now, so the number of periods in the formula, I am guessing would be now() subtract the date.


Thanks for any help,


Josh

Originally Posted by Josh_123456

I am trying to find a formula that will do the following.


I have this information

House Value = 245,000
Date = 8-1-2005
Appreciation = 7% annually


I want to know or estimate, if he gains 7 percent appreciation per year on his home, what is the estimated market value of his home right now, so the number of periods in the formula, I am guessing would be now() subtract the date.


Thanks for any help,


Josh

Hi Josh

Assuming A1 is Market Value, A2 is the date when this MV was assessed, and A3 being the annual effective rate of inflation then maybe:

=A1*(1+A3)^((TODAY()-A2)/365)

Hope this helps!

Richard

thank you

Josh