Latest Posts From Raiyan Zaman Adrey
In this Excel tutorial, you will learn -The basics of Excel area and volume calculator. -The calculation of the area of various 2D geometric shapes. -The ...
Raiyan Zaman Adrey
In this Excel tutorial, you will learn how to -Create a timeline using a template. -Use Excel's built-in Scatter chart, SmartArt and PivotChart features to ...
Creating a stock chart in business is often essential for visualizing price trends and patterns over time that help in investment decision-making and market ...
In this Excel tutorial, you will get to know how to -Create clustered column chart, stacked column chart, and 100% stacked column chart. -Format column ...
In this Excel tutorial, we have discussed how to -Organize data using Sort feature. -Apply Filter feature to organize data. -Highlight important data. ...
In this Excel tutorial, you will learn how to - Use several built-in Excel functions to find missing values. - Compare two lists for missing values. - Fill ...
In this Excel tutorial, you will come to know how to -Enable clipboard feature while working in Excel from the Clipboard sidebar. -Copy multiple items and ...
Often it is essential to create an Excel trendline for part of data only while working in order to concentrate on certain trends, identifying outliers, ...
Safety stock is essential in many sectors, specially in those that deal with inventory management and supply chain operations. It makes sure that a business ...
It is often necessary to call a VBA subroutine (sub) from one workbook to another. This makes it simpler to organize and arrange your VBA projects because it ...
In this modern world, life without Excel is kind of unimaginable. Almost in every working sector, Excel works as an essential tool. Numerous operations can be ...
When you get to deal with a huge spreadsheet in Excel, your work will be time-consuming if you don’t have sufficient skills in filtering data. And to filter ...
Excel’s text-to-columns feature is one of the most popular features in Excel. Text to columns feature is applicable for delimited and fixed-width type data. ...
Sales run rate is an important parameter in the field of business, finance, e-commerce, and retail that wants to predict future revenue based on current sales ...
Dear Emely Phiri,
Thanks for reaching out to us. Let’s clear your confusion.
Think of it this way, you already know how one can calculate annual interest when one has the principle and the every month’s saving’s amount. If it is simple interest, you use the I=P*r*n formula and for compound interest, you use I=P*(1+r)^n-P.
Now, if I say, your principle is $1200, interest rate is 10% then the annual interest using the simple formula would be $1200*0.1*1=$120 right? Which means, the interest you are actually getting is $120/12=$10 every month. And if you save like $50 every month, the total amount in your account at the end of the first month and at the beginning of the second month will be $1200+$10+$50=$1260, where $1200 is your principle, $10 is the first month’s interest and $50 is the amount you further deposited into your account.
Now, as you have deposited $50 more, would the interest at the end of the second month and at the beginning of the third month be the same? Of course not.
At the beginning of the second month, the net amount in your account is $1260 right? Then, as the interest rate is 10%, so in that sense the annual interest using this new amount should be $1260*0.1*1=$126. So basically, the monthly interest this time becomes $126/12=$10.5. That means, at the end of the second month and at the beginning of the third month, the net amount in your account now is $1260+$10.5+$50=$1320.5, where $1260 is the net amount at the beginning of the second month, $10.5 is the monthly interest and $50 is the amount you save every month. And the same procedure goes on for the rest of the months as you are depositing money every month into your account.
For monthly compound interest, the procedure is mentioned in this article.
Hope, this clears your confusion. Have a great day.
Dear COLYNN BURRELL,
Thanks for reading our article. Try the following formula to resolve your issue.
=IF(C5="Fail", TEXT("Replace, Review", "[$-409]@"), "")The formula indicates that if cell C5 contains text Fail, then the formula will return Replace, Review. If not, then the result it will return will be blank.
Formula Breakdown
● TEXT(“Replace, Review”, “[$-409]@”)
This formula returns Replace, Review each time.
● IF(C5=”Fail”, TEXT(“Replace, Review”, “[$-409]@”), “”)
This formula returns Replace, Review only for the text string Fail.
Now to add red color to the output, use the conditional formatting feature as illustrated in this article.
● Select the range D5:D9.
● Go through these steps: Home >> Conditional Formatting >> New Rule.
● Now, select Format only cells that contain from the Select a Rule Type section.
● Select Specific Text.
● Type Replace, Review.
● Click on Format.
● Select Font.
● Click on the arrow down icon in the color section.
● Select the color red.
● Click on OK.
● Click on OK again.
● And the output will be as follows as you have desired.
Note: However, you can’t change the color of the output just after applying the formula. You have to use conditional formatting for that.
If the problem still appears, kindly send us your Excel file and specify the exact problem you are facing.
Thank you
Best Wishes,
Raiyan Zaman Adrey
Dear MARK GROENING,
Thank you for reading our articles. You wanted a formula to delete any random number and leave only text.
You can follow method 3 and method 5 of this article for your problem. The formulas mentioned here should work with your problem.
Using formula of method 3:
=TEXTJOIN(“”, TRUE,IFERROR(MID(B5, SEQUENCE(LEN(B5)), 1) *1, “”))
Using formula of method 5:
=SUM(MID(0&B5,LARGE(INDEX(ISNUMBER(–MID(B5,ROW($1:$99),1))*ROW($1:$99),),ROW($1:$99))+1, 1)*10^ROW($1:$99)/10)
Hope, this worked for your problem.
Regards,
Raiyan Zaman Adrey