what excel function can be used to determine amount of interest
Enter Compound periods into cell A3 and 5 into cell B3. Now you can calculate the compound interest in cell B4 by entering =(B1*(1+B2)^5)-B1, which gives you $276.28. A third way to calculate compound interest in Excel is to create a macro function. First start the Visual Basic Editor, which is located in the developer tab. Click the Insert menu, and click on Module. Then type Function Compound_Interest(P As Double, i As Double, n As Double) As Double in the first line.