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compound interest over 8 months in excel

Posted on 2013-06-18
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Last Modified: 2013-06-18
An insurance company has been debiting money since dec to jun 2013 without permission. I would like excel to add compound interest @ 8% added monthly from dec to june.

I cannot see how to do that.

spreadsheet attached

i am in latest excel version
eeexample.xlsx
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Question by:PeterBaileyUk
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7 Comments
 
LVL 6

Accepted Solution

by:
Michael earned 500 total points
ID: 39256517
in cell F12 type:
=E12*1,08^ROWS(E12:E$18)

then drag down to F18

the ROWS(E12:E$18) part results in 7 and decreases to 1 when dragging down
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Author Comment

by:PeterBaileyUk
ID: 39256539
it didnt calculate all i see is the formula like it is a label
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LVL 6

Expert Comment

by:Michael
ID: 39256552
see attached file for working formula
eeexample.xlsx
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Author Comment

by:PeterBaileyUk
ID: 39256563
cannot see attachment
0
 
LVL 6

Expert Comment

by:Michael
ID: 39256574
Yes sorry
I edited the message, it's attached now
0
 

Author Comment

by:PeterBaileyUk
ID: 39256575
weird works in your ok thank you so i assume they owe me 234 odd
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Author Closing Comment

by:PeterBaileyUk
ID: 39256582
thank you
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