How to calculate compounding interest on a monthly basis

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Thu 18 Sep 2008, 11:36 Delegate Mabel said...

Mabel has attended:
Excel Advanced course
Access Intermediate course

How to calculate compounding interest on a monthly basis

i would appreciate a template to use in calculating compounding interest on a monthly basis

Thu 18 Sep 2008, 12:38 Edited on Thu 18 Sep 2008, 12:39 Trainer David said...

RE: how to calculate compounding interest on a monthly basis

Hi Mabel

Interestingly Excel does not have a built in function for compounding interest but there is a useful resource on their website that shows how you can get round this.

Please see the following link:
http://support.microsoft.com/kb/141695

Hope that helps.

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Excel tip:

Importing Numbers in Excel 2010

Occasionally, when importing data into Excel you find that the some of the imported values are treated as text.

To convert these numbers to actual values, click on an empty cell and press Ctrl+C.

Next, select the range that contains the values you need to change and in the Clipboard Group on the Home tab, click the Paste drop-down arrow and choose Paste Special. In the Paste Special dialog box, select Add and then click OK.

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