nper = the total number of compounding periodsįormula for Compounding Yearly, Monthly, Weekly.rate = the interest rate per compounding period.The basic compound interest formula for calculating a future value is F = P*(1+ rate)^ nper where Update - Fixed the Daily compounding option to reference 'Daily (365)' Compound Interest Formula
Plus, people tend to use spreadsheets in ways I haven't thought of. One of the worksheets in this file is nearly identical to the online calculator above, and was used to help verify the calculations.īETA () - This spreadsheet is currently a BETA version because I haven't tested every possible input combination. The graph compares the total (cumulative) principal and payments to the balance over time.
The table is based on the payment frequency and shows the amount of interest added each period. This spreadsheet was designed as an educational tool - to help show how compound interest works for both savings and loans.
