Bank Interest in Excel You have a loan at the bank, and you want to know how much interest you have to pay per month or year.... here how: So you have saved money on your bank account and the bank rewards you with an interest of 3.6% per year. How much do ist make over 10 years you ask yourself. Interest is calculated on a monthly base so the 10 years are actually 10 x 12 = 120months Every month, the amount you have is increased by the monthly interest (which is 3.6% / 12 = 0.3%)..... it seems small but small things make great things over time.... So after one month you have $10'000x0.3% = $30 more on your account second month (if you did not withdraw), you will have $10'030 x 0.3% = 10'060.09 etc.... In excel it looks like: download it from here. FV function (future value) Now we can make it simpler by using the FV (for future value) function that Excel provides us. =FV(rate per period, number of periods, payment at each period, initial value of the account) Here is an example how to calculate the money you will have after a certain time. download it from here.