what is the FV if the PV is $1.00 and the interest rate is 2% annually after 7 years? how write it in excel ?

Question

i am trying to do a math assignment and put this in to excel but i don't know how to can someone help me please. thanks i don't know how to do the answer/solve or put it in to excel . thanks.

Answer 1

The easiest way to do this is to use the Function Wizard in Excel. The formula is =FV(0.02,7,,(-1))

Answer 2

As the first answer stated, Excel has built in functions for both FV and PV. Click the Fx in front of the formula bar and select FV or PV. The wizard will walk you though the rest. Given time, I could work out the actual formula by hand, but it is rarely worth the effort.