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Hi,
I'm trying to calculate the starting value and monthly increase in income based on a known total for the year (£150k) and monthly percentage increase (5%). Can anybody help?
Thanks,
Simon
Hi,
I'm trying to calculate the starting value and monthly increase in income based on a known total for the year (£150k) and monthly percentage increase (5%). Can anybody help?
Thanks,
Simon
Put Total in A2, % increase in B2 and use this formula in C2 to calculate initial value=
Check attached.
=A2*(B2/100)/(POWER(1+B2/100,12)-1)
Happy to Help
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Sourabh
Thank you!
Glad to know that worked!!
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=PMT(B2,12,0,-A2)Originally Posted by magic1810
where B2 is 5% and A2 is 150000.
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