Someone handy with Buisseniss excel and can help me?

[Hunt]

I got this assingment from school and dont know where to start.

Question:
How much money do you need to put at the bank with 5% intrest per year with a total of 6 years and get €3000 intrest above the invested money (not mentioned)

So seen the fact there isnt given a begin vaulue or an endvaule i cant figure out how to put these fact's in excel and calculate what the beginvalue was.

Hunt

[mangesh_yadav]

Let
A1 = 5% (rate)
A2 = 6 (years)
A3 = 3000 (amount of interest)

To get the amount to be put in bank to get the above, enter the following formula in a cell:
=-A3/(1-(1+A1)^A2)


- Mangesh

[Hunt]

Thank you VERY MUCH mangesh. it really helped me out :D