If you use Excel to model businesses, business processes, or business transactions, this course will change your life. You’ll learn how to create tools for yourself that will amaze even you. Unrestricted use of this material is available in two ways.

As a stand-alone Web site
It resides on your computer, and you can use it anywhere. No need for Internet access.
At this Web site
If you have access to the Internet whenever you want to view this material, you can purchase on-line access. Unlimited usage. I’m constantly making improvements and you’ll get them as soon as they’re available.

To Order On Line

 Order "Spreadsheet Models for Managers, on-line edition, one month" by credit card, for USD 69.95 each, using our secure server, and receive download instructions by return email.
 Order "Spreadsheet Models for Managers, on-line edition, three months" by credit card, for USD 199.00 each, using our secure server, and receive download instructions by return email.

To Order by Mail

 Make your check payable to Chaco Canyon Consulting, for the amount indicated: For the download: USD 199.00 For access online for three months: USD 199.00 For access online for one month: USD 69.95 And send it to: Chaco Canyon Consulting 700 Huron Avenue, Suite 19C Cambridge, MA 02138

To use the course software you’ll need some other applications, which you very probably already have. By placing your order, you’re confirming that you have the software you need, as described on this site.

 Future value in Excel
• Excel has a future value function (a worksheet function) that solves this problem easily: fv
• Use the worksheet function fv for computing future value at compound interest for:
• A lump sum at T=0
• A stream of constant payments (annuity or installment)
• Both
• Interest is compounded per period
• fv(rate, nper, pmt, pv, type)
• rate: Interest rate per period
• nper: Number of periods
• pmt: periodic payment
• pv: present value or starting amount
• type:
If 0: payments are made at the end of a period (default)
If 1: payments are made at the beginning of a period
• type argument affects only the payments

The most confusing thing about PV or fv is that they both return a value that’s the negative of the amount that would have been computed by formulas analogous to the ones shown on the previous page. The reason for this is explained on the next page.

If you’re making regular periodic payments, the size of those payments is supplied as the pmt argument. If there is an initial sum, supply that as the pv argument. If there are no regular payments, you can just omit the pmt argument, or supply a zero. If there is no initial sum, you can just omit the pv argument or supply a zero.

If you omit the type argument, Excel assumes a value of 0; that is, that payments are made at the end of each period.

In Excel, if you omit a non-required argument, you must still type any commas that separate it from the arguments that precede it or follow it, unless it’s the last argument, or unless you’re omitting all arguments that follow it. In those cases, you can omit all commas starting with the comma preceding the omitted argument.