I need a worksheet, within the existing payroll workbook, that would help me to figure how much money will be made with the temporary contributions from employee paychecks.
The person needs to enter the following fields:
- The number of compounding periods per year
- The number of years
- The simple yearly interest rate
- The amount of money (PV) that can be invested today
- A deposit made by Jeff at each compounding period.
(Note: Payment will always be made at the end of the period)
I keep getting hung up on this. I know the formula is:
FV(rate,nper,pmt,pv,type)
type = 0 because its the end of the month
rate = %/compounding periods
nper = years * 12
pv = The amount of money (PV) that can be invested today ???
pmt = A deposit made by person at each compounding period ???
I cant quite figure it out. Any help would be appreciated. Thanks in advance.
The person needs to enter the following fields:
- The number of compounding periods per year
- The number of years
- The simple yearly interest rate
- The amount of money (PV) that can be invested today
- A deposit made by Jeff at each compounding period.
(Note: Payment will always be made at the end of the period)
I keep getting hung up on this. I know the formula is:
FV(rate,nper,pmt,pv,type)
type = 0 because its the end of the month
rate = %/compounding periods
nper = years * 12
pv = The amount of money (PV) that can be invested today ???
pmt = A deposit made by person at each compounding period ???
I cant quite figure it out. Any help would be appreciated. Thanks in advance.
