Formula for converting monthly % increase to annual % increase

[Tymbo3003]

So in column A1 I have an average monthly net worth increase of the past 12 months listed as a percent -- 1%

In column B1, I'd like to insert a formula that calculates the annual net worth increase rate as a percent based on A1, assuming a net worth constantly grows at 1% each month for 12 months.

I had a bit of trouble find the answer to this via Google, so thought I'd try the experts.

Thanks in advance.

 

[steve the fish]

Theres probably a native function but the calculation is fairly simple:

=1.01^12-1

Format to percentage.