![]() ![]() The rate, the bank provides your interest is called the Nominal Interest Rate. ![]() If you deposit your money with a bank, the bank provides you interest in your deposits. We shall discuss both methods in this tutorial. If you deposit a small amount of money every month, your future value can be calculated using Excel’s FV function. Here, FV is the future value, PV is the present value, r is the annual return, and n is the number of years. If you invest your money with a fixed annual return, we can calculate the future value of your money with this formula: FV = PV(1+r)^n.
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December 2022
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