Compound Quarterly Interest Formula

[rajkenya1]

Hi Guys

Need some help on a compounding Formula. I have an initial investment of $100,000, earning interest at the rate of 3.4% per annum. The amount is invested for 90 days and is rolled over again. Thus rolled over for 4 quarters or 365/90 = 4.055 times.

Am looking for a simple formula which will give me the end value after one year.

Please help

 

[NARAYANK991]

Hi Raj ,

Going by this :

http://en.wikipedia.org/wiki/Compound_interest

you can try this :

=100000*(1+3.4%/4.055555556)^4.055555556

Narayan

 

[rajkenya1]

Thank you for your solution Narayan. I actually had that formula and was just checking if it was correct or if anyone came up with something different. But this works the same as well. Thanks again.

 

[kchiba]

Hi Rajkenya1,

Try this formula

=FV(3.4%/4,4,,-100000).