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Knowing that i am getting paid $10 000 a year, and that each year my salary increase by 5%. What is the formula for Excel to know how much i will get in 5 year? Thank you for any advise
597
Basic salary = Gross pay- total allowances (medical insurance, HRA, DA, conveyance, etc.)
The future value formula is FV=PV(1+i)n, where the present value PV increases for each period into the future by a factor of 1 + i. The future value calculator uses multiple variables in the FV calculation: The present value sum. Number of time periods, typically years.
Add the monthly data for the next consecutive 12-month period, and divide your result by 12 to calculate the third rolling average. Repeat the same calculation for each subsequent 12-month period to calculate the remaining rolling averages.
The formula in Excel is:
=VF(5%;5;0;-10000)
Which results in: $12,762.82
If your Office is english version you can use:
=FV(5%;5;0;-10000)
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