FormuladrillGrowth over time
An Excel formula exercise from Formuladrill. Solve it with a formula bar on a live sheet in your browser, and it is checked the moment you submit.
The task
How much will the starting amount be worth after the stated years of compound growth at the annual return? Put the result in B4.
What this exercise teaches
Compounding means each year grows on the previous year's result, hence the power.
A hint if you get stuck
You can use FV, or the growth formula start times (1 plus rate) to the power of years. Both give the same value.
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