How do I show monthly compound interest in Excel?

[Guest]

I am trying to create a formula in which a dolar amount is copmpounded
monthly for 5 years.

 

[Stan Brown]

Sat, 5 May 2007 01:20:00 -0700 from <=?Utf-8?B?VGhlIEptYW41MQ==?=

I am trying to create a formula in which a dolar amount is copmpounded
monthly for 5 years.

Do you want the month-end balances, or just the total?

For the total, see my page
http://oakroadsystems.com/math/loan.htm

For the month-end balances, it's easy. Let's suppose A1 holds the
interest rate per year as a percent and B1 holds the starting
balance. Enter this formula in B2:
=round( B1*(1+A$1/12), 2 )
Then click and drag the formula down through B61. B2 through B61 will
then be the month-end balances for the 60 months of the five years.