Excel 2007 helps me estimate the amount I need to invest, in order to realize my dreams
You always plan to save for your favorite car, marriage, child education, getting that glittering diamond ring, purchasing your dream house, etc.
But do not know how much to save
(monthly/quarterly/yearly) in order to realize your dreams.
Let’s dig into MS Excel 2007 to find out the solution for the same.
Let’s dig into MS Excel 2007 to find out the solution for the same.
If you have some clue about the prevailing interest rates on saving and fixed
deposit accounts in your bank that will be handy while estimating the amount
you need to save monthly/quarterly/yearly in order to achieve your dreams.
Let’s get started in MS Excel:
Step 1: In your excel spreadsheet,
in the office ribbon, select Formulas and then FV (short form of Future Value).
This is shown in the picture given below:
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| Future Value in Excel - Click to Enlarge |
Step 2: Once you select FV, you
will see the pop up window which is given below:
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| Future Value in Excel - Click to Enlarge |
Enter the values as illustrated in
the picture given above.
For your reference, I have entered
the values in the formula box given below, assuming monthly investments of 3000
for a period of 10 years and rate of interest as 8% p.a.
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| Future Value in Excel - Click to Enlarge |
Try this amazing function in
MS Excel and estimate the amount that you need to deposit to realize your
dreams.
Plan and achieve your dreams.
In case you wish to use my
spreadsheet – Realize your dreams to estimate your investment amount, click the
link given below.
Click on File and then download
the spreadsheet (illustrated below).
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| Future Value in Excel - Click to Enlarge |
Happy Learning!