How to create a template to track savings and compound interests

seriousdamage

Board Regular
Joined
Aug 14, 2005
Messages
58
Hello All,



I have been searching the net for an example template to calculate compound interests just like a bank would do. I found few examples but none of which do everything I am looking for.

Here is a description of what I am trying to do:

  • First what I don’t need but found many of, is a calculator that tells me how much money I would have in x amount of years if I deposit x amount of money…
  • I am looking for a flexible template that allows me to add a line every time I would make a deposit, so I need a date, amount deposited or withdrawn.
  • I can choose the Interest %
  • The interest is calculated per year for example 3% per year, but paid out every quarter so that I could re-invest it
  • Should be flexible to allow me to possibly make multiple deposits per month and the interest be calculated in accordance like a back would do
  • Have a field where I can see at any given time how much interest I am expected at the next payment.


Does anyone have any suggestion how to build something like this?



Much appreciated

Regards
Nic
 

Some videos you may like

Excel Facts

When did Power Query debut in Excel?
Although it was an add-in in Excel 2010 & Excel 2013, Power Query became a part of Excel in 2016, in Data, Get & Transform Data.

Watch MrExcel Video

Forum statistics

Threads
1,119,227
Messages
5,576,849
Members
412,749
Latest member
BlakeVanderMeer
Top