This article shows you how to calculate the future value of an investment in Excel.
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Calculate savings in Excel
Assume that at the end of each year, you deposit $100 in a savings account. With an annual interest rate of 8%, how much will your investment be worth in 10 years?
1. Insert function FV (Future Value).
2. Enter the parameters.
In 10 years time, you pay 10 * $100 = $1000 and you will get $1,448.66 after 10 years. The higher the interest rate, the faster your money grows.
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