Compunding Interest

[Ed O'Brien]

I have had to give up trying to do this myself.

I have a total of £2000 in cell 2A.
The monthly net interest is 0.02% in cell 2B
The number of periods is 12 in cell 2C
I want the total compound interest over the 12 periods to appear in cell 2D

Can anyone show me what formula achieves this?

TIA

Ed

 

[Roger Govier]

Hi Ed
in cell D2 enter
=A2*(1+B2)^12-A2

 

[Ed O'Brien]

Thanks, Roger.

Works a treat!

Best wishes,

Ed

 

[joeu2004]

I have a total of £2000 in cell 2A.
The monthly net interest is 0.02% in cell 2B
The number of periods is 12 in cell 2C
I want the total compound interest over the 12 periods to appear in cell 2D

=FV(B2, C2,, -A2) - A2