Accumulated profit

I am trying to make a small excelfile that will calculate how much commission an insurance broker gets over 5 years.

It should start with the broker puts in how much he think he will sell for every year in a cell called SALESVALUE.

The first year he gets 4% upfront commision of the SALESVALUE and then 0,2% every year the insurance is running....

Format something like this:

ENTER SALESVALUE HERE: ________


Commission: Year One Year Two Year Three Yearh Four Year 5
.-----------------------------------------------------------------------------------------------------------


For example: Joe the broker think he will sell insurance worth 1000 000 yearly.


Year 1: He gets 4% commision of the 1000 0000.
FORMULA: 0,04*SALESVALUE = 40 000


Year 2: He gets 4% commision of 1000 000 of what he sells year2 but also a 0,2% ticking commission of the 1000 0000 he sold year 1.
FORMULA: (0,04*SALESVALUE)+(0,002*SALESVALUE)


Year 3: He gets 4% commision of 1000 000 of what he sells year3 but also a 0,2% ticking commision of what he sold year 1 and year 2.
FORMULA: (0,04*SALESVALUE)+((0,002*SALESVALUE)*2) Is this correct thinking??


Year 4: He gets 4% commision of 1000 000 of what he sells year4 but also a 0,2% ticking commission of he sold year 1, 2 and 3
(0,04*SALESVALUE)+((0,002*SALESVALUE)*3) ?????

Year 5: He gets 4% commision of 1000 000 of what he sells year5 but also a 0,2% ticking commission of he sold year 1, 2,3 and 4.
(0,04*SALESVALUE)+((0,002*SALESVALUE)*4) ???????


PLEASE CAN SOMEONE CHECK IF MY FORMULAS ARE OK, OR IF THERE IS A MORE EFFICIENT SOLUTION TO CALCULATE THIS IN EXCEL.

I WOULD BE -VERY- GRATEFUL FOR ANY INPUT

Fine. I have edited the title.. sorry..


Any input is appreciated? My boss thinks I know excel.....

To best describe or illustrate your problem you would be better off attaching a dummy workbook, the workbook should contain the same structure and some dummy data of the same type as the type you have in your real workbook - so, if a cell contains numbers & letters in this format abc-123 then that should be reflected in the dummy workbook. Don't upload a picture when you have a workbook question. None of us is inclined to recreate your data. Upload the workbook and manually add an 'after' situation so that we can see what you expect. In addition clearly explain how you get the results..
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