Instructions for Simple and Compound Interest Spreadsheet

A1: Simple interest formula at the end of the year-(12 months)

A2: $200
B2: X
C2:

.06

D2: +
E2: =A2*C2
F2: =
G2: =A2+E2
A4: Compound interest formula at the end of each of 3 years
A5: Savings at beginning of year
C5: Percent interest
E5: Earned interest
G5: Savings at end of year
A6: $1,000
B6: X
C6: .1
D6: +
E6: =A6*C6
F6: =
G6: =A6+E6
A7: =G6
B7: X

C7: =C6
D7: +
E7: =A7*C7
F7: =
G7: =A7+E7
A8: =G7
B8: X
C8: =C7
D8: +
E8: =A8*C8
F8: =
G8: =A8+E8
A11: How to become a millionaire with an initial deposit:
A12: My initial deposit:
D12: 13,720
A13: Interest rate compounded annually
D13: .1
A14: No. of Years
D14: 45
A15: Amount Earned
D15: =(D12)*(1+D13)^D14
A17: Rule of 72: Double your savings
E17: Interest Rate

G17: Years to double

A18: Amount of Savings
B18: 5000
C18: 72
D18: /
E18: 8
F18: =
G18: =C18/E18
A19: Savings doubled
B19: =B18*2
A22: Shaded cells are those which can be changed.

Format as $ the following cells: A2, A6, A7, A8, B18, B19, D15, E2, E6, E7, E8, G2, G6, G7, G8
Center all cells which contain math symbols. Example: X, = , /, +
Format cells A5, C5, E5, E17, G5, G17 as wrap text.
Shaded cells: A2, C2, A6, C6, D12, D14, B18, E18