Algebraic future value formula with the symbol ^ to exponentiate

[jbone]

I created a formula in excel 2010 that generates the correct answer but I did not use the "^" function. Here is the formula I created, (1+$A$2)*$b3

I need the formula to do the same thing but I need to use the ^ in the formula. I have no idea how to do this, not very good at algebra which is why I like using excel..

 

[andiemac]

Try the Power() formula.

ie 2 squared would be =power(2,2)

If you ever need to use what would be displayed as a negitave poper, then in the power formula use one divided by your number.

ie =power(A1,1/3)

 

[jbone]

Thanks It looks like it works, I still am not sure why but thanks again for your help.

 

[shg]

What are you trying to calculate, and what are the values in the cells?

 

[jbone]

SHG, It is calculating the future value. I have to put in an algebraic formula that adds 1 to the contents of cell A@ and then raises this sum to the power of the contents of of cell B2. I am not allowes to use power or sum functions in excel. Like I said, I made a formula that did this but I didn't use the ^ to exponentiate.

Thank you again for your help

 

[shg]

If A3 contains the interest rate, B3 the principle, and C3 the number of periods, then future value due to compounded interest is

=B3*(1+A3)^C3

 

[jbone]

thanks again