Excel For Dummy

[icetonez]

I am having a tough time typing in this Annuity Formula in Exel for my school work. (1/r)*[1-(1/1+r)^n]
Both r and n are cell references, 10% and 8 years respectively.

Here is what I tried: =(1/D6)*(1-(1/1+D6)^E6)

That gave me -11 and the answer is supposed to be 5.33. I tried "[]" too, but I don't think they are legal. Any help from an Excel wiz would be greatly appreciated.

[zerosum]

You need to change your formula from this (1/r)*[1-(1/1+r)^n]

to this: (1/r)*(1-(1/(1+r)^n)

So change this =(1/D6)*(1-(1/1+D6)^E6)

to this: =(1/D6)*(1-(1/(1+D6))^E6)

Be sure to express D6 as either 0.10 or 10%, not just 10.

[icetonez]

Thank you, that worked great.