cube roots

Peter McKee

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Joined
May 6, 2002
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I am trying to get a formula that changes an annual interest rate into its monthly comparison. From monthly to annual i know the formula is (1+r) to the power 12, but how do i go the other way in a formula. There doesn't seem top be a formula for it....please help!
Thanks
Pete
 

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On 2002-05-07 03:59, Peter McKee wrote:
I am trying to get a formula that changes an annual interest rate into its monthly comparison. From monthly to annual i know the formula is (1+r) to the power 12, but how do i go the other way in a formula. There doesn't seem top be a formula for it....please help!
Thanks
Pete

=(1+A1)^12
=(1+A1)^0.0833333333333333

where A1 is "r".
 
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