If I have $2k and the return will be 6% for the next nine years what's the formula? Thanks
If I have $2k and the return will be 6% for the next nine years what's the formula? Thanks
=FV(rate,nper,pmt,(pv))
=FV(.06,9,0,-2000)
If, for example, you want monthly compounding instead of annual, then you'd divide your interest rate by 12 and multiply your number of periods by 12.... =FV(.06/12,9*12,0,-2000)
?
Thanks you guys are the best!
Last edited by justlearning; 06-14-2010 at 05:49 PM. Reason: already posted
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