# Thread: Amount at Compound Interest

1. ## Amount at Compound Interest

I discovered an old DOS spreadsheet while I was cleaning up in my computer room. While looking at the user manual, I saw a function which will calculate the amount an investment (principal) would return after so many periods at an interest rate.

I can't seem to find this function in my version of Excel (part of Office XP).

I'm not worried about present value or how long it takes to reach a goal - just how much (say) \$1500 left for 5 years compounded monthly at 6% would yield.

2. You can use the future value:
=FV(6%/12, 5*12,0,-1500)

Though I would just use the formula which is more intuitive to me:
=1500*(1+6%/12)^(5*12)

Steve

3. I'm with Steve!

Here's an example of it in use.
CompountInt.PNG

CompountInt2.PNG

4. Originally Posted by sdckapr
You can use the future value:
=FV(6%/12, 5*12,0,-1500)

Though I would just use the formula which is more intuitive to me:
=1500*(1+6%/12)^(5*12)

Steve

This the method I used and, of course, it works correctly. I am just surprised that it is not included as a built-in function.

BTW, the DOS program is called ProCalc 3D from Parsons Technology. Their model was a cube: 512 pages with 512 columns and 512 rows on each page. You could view and work with the cube using any of the six faces. I never used it much, however.

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