I've designed this spreadsheet which will decide how many FAs you need to make a profit given their wages, and the amount of time you'll have the money for. I've seen a couple of these before but they didn't take into account many factors. I've tried to make this as foolproof as possible. If there are any errors, please notifiy me. The factors that I've taken into consideration are:
1) You will have to pay an extra weeks wages to all the FAs that you have after you've fired them.
2) The maximum interest you can earn in a week is ?80,000.
3) The compound interest gained each week.
If you want the actual formula, it's like this:
Total Profit = Compound interest gained - FAs' Wages - Initial amount.
To take into account the 80k per week cap I've used another formula. It's the IF formula. If the profit from the interest alone is more than "80k ? No. of weeks", then the value is restored to 80K per week. If not, then nothing happens.
All you need to do is enter the number of weeks you expect to have the money in your bank, and the amount of money in your bank.
EDIT: Version 2 has been released. This now can be used when some one is in debt. Surprisingly, FAs aren't much use when in debt, unless you're in the red for a long period of time. As before, this is still in it's initial stage, but I think it's right anyway.
1) You will have to pay an extra weeks wages to all the FAs that you have after you've fired them.
2) The maximum interest you can earn in a week is ?80,000.
3) The compound interest gained each week.
If you want the actual formula, it's like this:
Total Profit = Compound interest gained - FAs' Wages - Initial amount.
To take into account the 80k per week cap I've used another formula. It's the IF formula. If the profit from the interest alone is more than "80k ? No. of weeks", then the value is restored to 80K per week. If not, then nothing happens.
All you need to do is enter the number of weeks you expect to have the money in your bank, and the amount of money in your bank.
EDIT: Version 2 has been released. This now can be used when some one is in debt. Surprisingly, FAs aren't much use when in debt, unless you're in the red for a long period of time. As before, this is still in it's initial stage, but I think it's right anyway.
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