I'm trying to calculate a yearly fee that will decrease by 10% per year (as measured each year against the prior year's fee). Is there a formula I can use that will help me avoid manualy changing the exponent or that will simplfy the equation? Sometimes I will be using 3 years and sometimes I will be using 4 or 5 years.
My Formula using #s
=0.025*((0.9^3)+(0.9^2)+(0.9^1))
The way my formula looks in my spreadsheet
=(B5*(((1-B7)^(B8-1))+((1-B7)^(B8-2))+((1-B7)^B8)))
I'm using Windows XP
Thanks
My Formula using #s
=0.025*((0.9^3)+(0.9^2)+(0.9^1))
The way my formula looks in my spreadsheet
=(B5*(((1-B7)^(B8-1))+((1-B7)^(B8-2))+((1-B7)^B8)))
I'm using Windows XP
Thanks