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Old May 7th, 2002, 04:59 AM   #1
Peter McKee
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I am trying to get a formula that changes an annual interest rate into its monthly comparison. From monthly to annual i know the formula is (1+r) to the power 12, but how do i go the other way in a formula. There doesn't seem top be a formula for it....please help!
Thanks
Pete
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Old May 7th, 2002, 05:12 AM   #2
Russell
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Use Power(number,1/3) for cube or
Power(number,1/12) for 12th root
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Old May 7th, 2002, 08:20 AM   #3
Mark W.
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Quote:
On 2002-05-07 03:59, Peter McKee wrote:
I am trying to get a formula that changes an annual interest rate into its monthly comparison. From monthly to annual i know the formula is (1+r) to the power 12, but how do i go the other way in a formula. There doesn't seem top be a formula for it....please help!
Thanks
Pete
=(1+A1)^12
=(1+A1)^0.0833333333333333

where A1 is "r".
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