In this blog, we will learn about Calculating Fixed Deposit maturity amount in Excel
Example:
If you have RS 1000 invested in Fixed Deposit where the bank’s Annual Interest Rate is 10%. Then how much total amount you will be getting after 5 years?
Here we will be applying the Simple Interest formula to calculate the total amount
A=P*(1+r) ^ n
A – Amount at the end of your maturity period
P – Principal
* – Multiply Sign which you will get on your digit 8 keyboard
r – R means rate of interest
^ – To the power sign which you will get on your digit 6 keyboard
n – Number of years
1. Write = and select the Principal Amount =C3
2. Apply the Multiply Sign *
Note – Multiply Sign you will get on your digit 8 keyboard
3. Open the bracket and write 1+ and select the Interest and close the bracket
4. Apply to the power sign ^ and choose the number of years
5. Press Enter
