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Excel: Sum series of function calls

Posted by: admin May 14, 2020 Leave a comment

Questions:

I have the following simple function that I need to call n times and sum the result.

10000*((1.01)^n)

I wish to call this 30 times, with n being 1-30, then sum the result. How can I do this in Excel?

How to&Answers:

You can use the following array formula.

=SUM(1000*((1.01)^ROW(A1:A30)))

Paste the formula into the formula bar and press Ctrl+Shift+Enter. It doesn’t matter where you enter the formula or what the contents of A1:A30 are; the A1:A30 is just a trick to get Excel to iterate through the formula 30 times.

Answer:

I know it’s been a few years, but I just stumbled across this today, 5-29-17. Here is the correct formula: sum=10000((1-1.01^31)/(1-1.01)-1)=351327. I verified this result with brute force in Excel. James Kane

P.S.: I tried to comment on the above two answers, but it would not let me because I am new here. The issue with the first answer is a typo (should be 10,000 not 1,000). The second answer also has a typo (should be 10,000 not 100,000) and an incorrect formula.