Excel Question

[JPhilb]

I need a formula that will calculate Present Value. The problem consist of making a $200 withdrawl at the end of a four year period. The account earns 7% and is compounded monthly.
I have tried creating a present value formula but does not work correctly for a single sum withdrawl.
The answer should come out to $151.28.

Jamie

 

[LeKirk]

Go to HELP and look at a function called FV. This will give you the ability to calculate compound interest monthly, yearly or wheneverly. Read it carefully, it took me a while to work it out but it does work and will do exactly what you want.