Compounding - must be an easier way

matt b

New member
Joined
Sep 26, 2011
Messages
1
Reaction score
0
Points
0
Can anyone help me?

I trying to calculate the compounding interest over a period of 3 years but I want to know what the total is on a month by month basis. I also need to be able to add more in at any month.

Basically if I have a bank account giving 3% interest and I start off with £100 I would like a row that tells me what the balance would be at any month with the ability to add to the balance of any month an additional amount.

I have a worksheet than can calculate this if I create a table but I have to add another row every time I wish to add some money in.

Can this be done with a formula instead as the table could go on forever?

I have attached the sheet that I have done so far.

Many thanks in advance if anyone can help.
 

Attachments

  • compounding.xlsx
    11.4 KB · Views: 12
Top