Compound Interest using arrays?

**azarul** · 07-31-2009, 01:13 PM

Hello,

I'm doing a project for university and am having some real trouble...
And it is due by midnight!

Attached is the required information...

I only really need help with the first page (Array formulae).

Thanks for any urgent responses!

Az

**azarul** · 07-31-2009, 01:22 PM

Currently what I have set up is columns with the following headings:

Amount Deposited (which is the R7500.00)
Interest Rate (Ranging from 5% to 10%)
Total (Interest compounded monthly)
Total (Interest compounded quarterly)
Total (Interest compounded semi-anually)

So the last 3 columns is where my calculated data needs to go...

**Paul** · 07-31-2009, 01:37 PM

Hello Azarul,

As a rule (pun intended) the volunteers here often avoid doing homework assignments for students, otherwise what have you learned?

There are MANY websites that will show you how to calculate interest using Excel, and Excel even has built-in functions that will do the work for you (see Excel Help -> Financial Functions for a list of them).

Finally, as volunteers, we try to help others and do so at our own pace. If something is very urgent, there is also a Commercial Services Exchange forum in which you can post a request to be done ASAP for a fee (which would be agreed upon between you and the person choosing to assist).

Thanks, and I hope you complete your project!

**azarul** · 07-31-2009, 01:49 PM

Sorry for all the problems, still getting the hang of the forum. Everything that was seen as a problem has now been corrected.

I understand how people don't generally like to help out on homework problems and I am aware of the help files, but in this case I need to create an array formula and not just use a fixed formula like the help files suggest.
I am having trouble getting my formula to work so any assistance would be greatly appreciated.