Hello,
Can anyone help me?
I need a formula in Excel that calculates compound interest
Principal sum of $5m
Yielding a weekly return of 8%
So returns accrue every 5 banking days (with no withdrawals)
Minus a weekly commission fee of 5%
Giving the NET monthly compounded result per month for 10 banking months.
A week is 5 banking days and a month is a banking month of 20 days.
Thanks very much!
Helen
Wouldn't it be just
=5000000*(1.03^40 - 1)
Entia non sunt multiplicanda sine necessitate
Hi,
Thanks I will try it. I may be making it sound more complicated than it actually is.
Does that include the weekly 8%?
Helen
8% return minus 5% commission is net 3% per week, no?
Ah right yes I think I see what you mean now.
Is there a way to beak the formula down so I can show the total after each of the ten years?
Row\Col B1: =0 B2: =5000000*(1.03^A2 - 1.03^A1) B6: =SUM(B2:B5)
Last edited by shg; 11-22-2014 at 04:50 PM.
Hi,
Thats fantastic! thanks you for your help.
Helen
You're welcome.
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