Table 1 Future Value of a Single Sum

I've been brushing up on some of my accounting concepts. This month's topic is the time value of money. I remember that I used to be really good at using interest tables while I was in college. Since I haven't used them in a while, I'm a little rusty.

The Table 1 is for the future value (FV). It contains the amounts to which an amount of money (PV) will accumulate if deposited now at a specified rate of interest (i) and left for a specified number of periods(n).

Without using the table, the calculations for the future value represented by the formula:

FV = PV (1 +i)^n

The future value (FV) of $100 (PV) deposited for one compounding period at 9 percent interest is:

FV = 100 (1 + .09)^1

FV = 100 (1.09)

FV = $109

The future value (FV) of $100 (PV) deposited for three compounding period at 9 percent interest is:

FV = 100 (1 + .09)^3

FV = 100 (1.295029)

FV = $129.50

Link to Tables.

http://highered.mheducation.com/sites/0072994029/student_view0/present_and_future_value_tables.html

It was just as easy to create my own Excel spreadsheet:

Here is the formula that I used in cell B2 of my spread sheet. I then copied the one formula to the remaining cells of my table: