Re: calculate an annual 1% grows - how much grows is that for every one of the 12 mon
This may help !!!
1000 @ 1% for a year =1000 +(1000*0.01) = 1000*(1+0.1)=1000*1.01 = 1010
If you just want to know how it will grow if compounded monthly to achieve the same "1010", you have to find the 12th root of 1.01 this equals 1.01^(1/12) =1.00082953811if you then compound your 1000 over 12 months, which equals 1010.
[TABLE="width: 268"]
Yearly Rate
[/td]Mthly rate
[/td]
[TD="align: right"]1.01[/TD]
[TD="align: right"]1.000829538[/TD]
Month
[/td]
[TD="align: right"]1[/TD]
[TD="align: right"]1000.830[/TD]
=1000*$C$2
[/td]
[TD="align: right"]2[/TD]
[TD="align: right"]1001.660[/TD]
=C4*$C$2
[/td]
[TD="align: right"]3[/TD]
[TD="align: right"]1002.491[/TD]
=C5*$C$2
[/td]
[TD="align: right"]4[/TD]
[TD="align: right"]1003.322[/TD]
=C6*$C$2
[/td]
[TD="align: right"]5[/TD]
[TD="align: right"]1004.155[/TD]
=C7*$C$2
[/td]
[TD="align: right"]6[/TD]
[TD="align: right"]1004.988[/TD]
=C8*$C$2
[/td]
[TD="align: right"]7[/TD]
[TD="align: right"]1005.821[/TD]
=C9*$C$2
[/td]
[TD="align: right"]8[/TD]
[TD="align: right"]1006.656[/TD]
=C10*$C$2
[/td]
[TD="align: right"]9[/TD]
[TD="align: right"]1007.491[/TD]
=C11*$C$2
[/td]
[TD="align: right"]10[/TD]
[TD="align: right"]1008.326[/TD]
=C12*$C$2
[/td]
[TD="align: right"]11[/TD]
[TD="align: right"]1009.163[/TD]
=C13*$C$2
[/td]
[TD="align: right"]12[/TD]
[TD="align: right"]1010.000[/TD]
=C14*$C$2
[/td]
[/TABLE]