How to calculate compound interest?

[Jakest]

hello first post here

i want to learn to calculate compound interest using excel
how do i do that?

let say i have 1000$ and it gets 10% raised every week
how do i calculate the total growth in 1 year?

 

[Special-K99]

https://www.ablebits.com/office-addins-blog/2015/01/21/compound-interest-formula-excel/

 

[Jakest]

i cant find a formula for weekly raising

only annually

 

[Finalfight40]

Can you not use the same idea provided in the link by Special-k99?

Where you have

=A1*(1+B1)^C1

where A1 is the initial value
B1 is the interest
C1 is the number of weeks

 

[James006]

Hello,

First step is to determine if your interest rate is

A. 10% per year
or
B. 10% per week ...

Formula is = Amount * (1+i)^52

A. gives a result : 142'042.93

B. gives a result : 1'105.06

There is a tiny difference ...!!!

 

[Jakest]

let say i get 10$ every week
and im getting 10% raise every week

how much it will be the amount in 52 and 104 weeks?

 

[James006]

Impressive 10% per week ... !!!

Mathematically :

1'000 * ( 1 + 10% ) ^ 52 = 142' 042.93

1'000 * ( 1 + 10% ) ^ 104 = 20'176'194.52

 

[Jakest]

1'000 * ( 1 + 10% ) ^ 52 = 142' 042.93

1'000 * ( 1 + 10% ) ^ 104 = 20'176'194.52

shouldn't be 10 instead of 1,000?

 

[AhoyNC]

Using the FV function in Excel

Excel Workbook
	A	B	C
1	Amount	1000
2	Rate	10%
3	weeks	52	$142,042.93
4
5	weeks	104	$20,176,194.53
Sheet

 

[Finalfight40]

shouldn't be 10 instead of 1,000?

Also i just want to add something else you said which either i misunderstood or James missed.

For your newest example did you want to add 10% interest AND an extra $10 each week?