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Compound interest

See what savings grow to with monthly compounding.

The formula

Argument separator
Excel and Google Sheets
=FV(B1/12, B2*12, 0, -B3)

How it works

  1. B1/12

    Yearly rate as a monthly rate.

  2. B2*12

    Number of months.

  3. 0

    No extra monthly deposits. Put a negative amount here to add regular savings.

  4. -B3

    The starting amount (negative because it is money you put in).

Example

B1: RateB2: YearsB3: StartResult
5%101000016470.09

Tips

  • For yearly compounding use =B3*(1+B1)^B2.