Ok, im trying to calculate monthly interest. lets say on a savings account. lets just use these numbers for example. 5% interest rate on 1000 dollars. i know how to do it every line, typing in the formula, but i dont know how to plug it in and let excel continue the formula for me. this is how i would prefer it set up. all the A column after A1 is just the previous Column C (A2 is C1+75). All of Column B, is Column A Times 0.05(A2*0.05) and all of column c is Those numbers added (A2+B2) and i want excel to plug it all in for me for the next, o say, 24 months or so. if anyone can help it would be much appreciated, thank you.
2007-02-13 05:30:54 · 5 answers · asked by Anton 1 in Computers & Internet ➔ Software
Once you have your formulas set, to make it continue down a column you just click on the cell and there will be a little black box in the bottom right corner, click on that box and drag it down as far as your little heart desires.
2007-02-13 05:34:32 · answer #1 · answered by Lowa 5 · 0⤊ 0⤋
All you do is copy your formulae from A2:C2, highlight the A3:C25 (for 24 month's worth) and hit enter.
However I think you've simplified (or rather complicated) matters by putting 5% a month. I take it that the 75 represents a monthly installment?
If these are monthly calculations, then you shouldn't multiply it by 0.05, but actually by 0.004166667, which is your 5% divided by 12 months, otherwise you're calculating crazy interest rates (i.e. 0.05x12=60% annualised interest rate).
Finally, rather than put the % in the formula, use a cell reference instead, e.g. the formula in B2 is =A2*$A$1, where A1 contains your interest rate (the $s are to ensure that cell is always referenced no matter where you paste the formula). Likewise with the 75 value. That way, you can play around with varying interest rates and installments for different outcomes.
Hope that helps.
2007-02-13 19:45:36 · answer #2 · answered by Radiohead 3 · 0⤊ 0⤋
Well what you have described is extremely confusing. I think I have a rough idea of what you want to be done, as I majored in Programming including Excel.
If the question you want is how can I apply the formula of one cell to others the answer is simple. You can either:
Copy and paste to a remote cell
or
For a long line of cells - click the cell with the current formula, click and hold on the small bold black box in the corner of the cell and drag to apply that forumla to other cells. The forumla will automatically update.
2007-02-13 13:38:07 · answer #3 · answered by Chεεrs [uk] 7 · 0⤊ 0⤋
well first of your formulas are screwed if your trying to put in 5% actually put it in (a2*5%) then if you click on that cell, in the bottom right there is a little cross where the bottom and right side line meet, click it and drag it down.
2007-02-13 13:35:33 · answer #4 · answered by jwalker343 3 · 0⤊ 0⤋
I had something that was written for excel, but then I found this great website that gives you the breakdown for your payments. Here is the link.
2007-02-13 13:36:51 · answer #5 · answered by mel m 4 · 0⤊ 0⤋