Understanding the Mathematics of Personal Finance

If you’d like to try my website spreadsheet calculators, please take a moment and glance through Chapter 15. You’ll find instructions for obtaining a free spreadsheet program if you need one, as well as instructions for downloading and using my spreadsheets.

Tables 2.1 and 2.2 were generated with my spreadsheet Ch2CompoundInterest. xls. After opening the spreadsheet, click on the Basic tab. Table 2.3 shows part of Table 2.2 with the spreadsheet’s row and column designations added.

Table 2.3 Table 2.2 (First Few Entries Only Are Shown) in Spreadsheet Format

 D F G Compounding interval Interest (\$) Balance (\$) 1 0 0.00 10,000.00 2 1 83.33 10,083.33 3 2 84.03 10,167.36 4 3 84.73 10,252.09 5 4 85.43 10,337.52 6 5 86.15 10,423.67

The first example above (Table 2.1) is generated using my spreadsheet with the following entries (to the left of the green line):

The number of years that interest is accruing The number of compounding intervals per year

This is the APR

Up-front fee. This hasn’t been discussed yet. Set it = 0 for now.

For the second example above (Table 2.2):

Nr Years = 2 The number of years that interest is accruing

Cmpds per Year = 12 Monthly compounding

Principal = \$10,000.00

Rate = 10.00% APR

Up - front = \$0.00

Your results should agree with Table 2.2. The spreadsheet (to the right of the green line) should look exactly like Table 2.3 (the first few lines of the spreadsheet, that is).

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