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Ready to use.
Follow along to create your own template for the EIGHTH Wonder of the World: Compounding. It shows how long it takes to become a millionaire. The chart also uses dynamic named ranges, using Offset, to create a beautiful chart that updates automatically.
With compounding, you invest some money, get a return (e.g. 10%) and then reinvest your earnings. Over time your amount grows, so 10% of your increased amount is higher. This starts small, but soon grows exponentially and makes you a millionaire.
A compound interest calculator shows you how much to invest, at what rate and over what period of time, and how much your investment will grow to.
#Excel #Millionaire
Timestamps:
00:00 Introduction and composition overview
01:55 Blank template
02:54 Total amount contributed
03:21 Composition table
05:20 Final amount
06:30 Create a named range
07:35 Composite graph
Excel and project management playlist here: https://www.youtube.com/playlist?list=PLEWFSKHjyrwydP0YBztsIdu47Csvp5KXf
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