Formula for Yearly Interest Withdrawal Deposit with Qtly Compounding

Any Ideas on a Formula for Yearly Interest Withdrawal Deposit with Quarterly Compounding.!!!!

Dear Forum,

I am looking for an Excel Formula or a Mathematical Formula which can help me compute the Maturity Amount for a Term Deposit which gives Yearly Interest and is compounded Quarterly..

This is the Traditional Compound Interest Formula:


Maturity Amount = Principal X ( 1 + IntRate/CompFreq ) ^ (4 * Period)


Period = More than 1 year , lets say 2 years..then as the Interest is withdrawn evey year the Principal remains the same for the next Period that is the period of 4 Quarters..

Regards
e4excel

Example:

TERM DEPOSIT ITEMS
INVESTING AMOUNT Rs 1,87,500
STARTING DATE 01-Apr-10
CLOSING DATE 01-Apr-11
RATE OF INTEREST 8.00
FREQUENCY OF COMPOUNDING Quarterly

MATURITY AMOUNT Rs 2,02,956
TOTAL INTEREST Rs 15,456

This is the Yearly Interest which is received on 1st April 2011 so the Principal again changes to the origina l Principal Rs 1,87,500 which was on STARTING DATE : 01-Apr-10
Now if the Duration was more than 1 year what will be the formula?

I mean I know that the Interest is the same Rs 15,456 however that is calculated only for one year and then multiplied by the duration which is the most obvious thing to do

Regards
E4excel