future value ?

[leapinlizard]

Hi i'm keep getting wrong answer help me plzzz

7. If the sales person with the highest commission decides to place half of his commission in a saving account that will earn 4% over the 3 years how much money will he have in the account if the person does not add any more money to the account?

SalesPerson | High commission | Rate | Amount

Roger 5705.55 | 4% | 6417.86


but with excel formula i'm getting like 17000 and some

my formula is
=FV(COMMISSION/12,4%,3YEARS)
WHAT I'M DOING WRONG ?

[starguy]

Hi i'm keep getting wrong answer help me plzzz

7. If the sales person with the highest commission decides to place half of his commission in a saving account that will earn 4% over the 3 years how much money will he have in the account if the person does not add any more money to the account?

SalesPerson | High commission | Rate | Amount

Roger 5705.55 | 4% | 6417.86


but with excel formula i'm getting like 17000 and some

my formula is
=FV(COMMISSION/12,4%,3YEARS)
WHAT I'M DOING WRONG ?

Hi

simply this formula would work for you.

=5705.55*(1.04^3)

or you can use cell references in this formula instead of using figures.

[davesexcel]

A1=5705.55
B1=0.04
C1= 3


=a1*(1+b1)^c1

[leapinlizard]

thank you guys

[starguy]

thank you guys

you're welcome