Compound Interest Formula in Excel Easy Calculator
To take advantage of the compound interest formula, the borrower should make additional principal-only payments. This formula looks more complex than it really is, because of the requirement to express it in annual terms. Keep in mind, if it's an annual rate, then the number of compounding periods per year is one, which means you're dividing the interest rate by one and multiplying the years by one. In Excel and Google Sheets, you can use the FV function to calculate a [...]
