You save Rs. 20000 a year for first 5 years, and Rs. 30000 a year for next 10 years thereafter. How much these savings will grow into? Assume a rate of interest of 10% p.a.

Please calculate this question in Excel and send me the steps ??

Please calculate this question in Excel and send me the steps ??

Jul 02 2013 04:37 PM

Enter the amount of investment in the first column year wise. In the next column make the cumulative sum of each row. Then apply the interest % on the cumulative sum for each year.

For eg:

Column A B C D

Year Investment Cumulative Investment Interest @ 10%

1 20000 20000 2000

2 20000 40000 4000

and so on

15 30000 400000 40000

So the total savings including interest grows to 4,40,000 at the end of 15 years.

Mar 06 2014 12:20 PM
For eg:

Column A B C D

Year Investment Cumulative Investment Interest @ 10%

1 20000 20000 2000

2 20000 40000 4000

and so on

15 30000 400000 40000

So the total savings including interest grows to 4,40,000 at the end of 15 years.