What kind of formula would I use for an annual amount for rent?

[maria]

Could someone please help me, I am trying to figure out what type of formula
I should use in my "Estimated Diner Expenses" worksheet for school. For
example:
Monthly Rent is 1500 what would be the formula to use to figure the Annual
Rent amount?

 

[Shane Devenshire]

Hi,

=12*Monthly

or

=12*1200

or if 1500 is in A1 then in a blank cell

=A1*12

 

[Gord Dibben]

How would you do it using pencil and paper?

=months x monthly rate

=12* 1500


Gord Dibben MS Excel MVP

 

[maria]

Thank you so much for your assistance, but should I also use something like
this
=SUM(A1*12)?

 

[Gord Dibben]

The SUM is not needed in this case since you are multiplying two numbers.

No summing involved.

Don't overwork the SUM function..........too many people use it when not
necessary.

=123 + 456 is the same as =SUM(123 + 456) or =SUM(123,456)


Gord

 

[maria]

Thank you for your assistance.
--
Maria A Adams

No you shouldn't. If you look up the SUM function in Excel help you will
see that it is a function for giving you the SUM of a group of numbers, in
other words adding them together.

You haven't asked the function to add anything to A1*12, so you don't need
the SUM function. If you want A1*12, thye formula is =A1*12

 

[maria]

Thank you for your assistance.
--
Maria A Adams

How would you do it using pencil and paper?

=months x monthly rate

=12* 1500


Gord Dibben MS Excel MVP