What formula in Excel i will use and how?

I started depositing certain amount of money each year from 2008. I want a sum of 500000 at the end of 2024.If the payments accumulate at 8% compound annually, what will be the amount of deposit each year.

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Answer:
The Pmt() function will do this calculation, assuming that you are planning to deposit the same amount each year. You should put your known values in cells and reference them in the formula, but here it is using your numbers:

=PMT(0.08,2024-2008,0,500000,0)

That assumes that the first payment is made at the end of 2008. If it is made immediately, then change the Type argument (last one) from 0 to 1.

For more information, please see my tutorial on the Excel time value of money functions in the source list. In particular, the second page covers annuity calculations like this one.

Tim

http://feeds.feedburner.com/ExcelBlog

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Answer:
you will want to use the PMT function, which allows you to input the rate, number of periods, present value, and future value. it is very easy to use.