![]() ![]() For example, if your bank provides 6% per year, then the nominal interest rate is 6%. ![]() The rate, the bank provides your interest is called the Nominal Interest Rate. If you deposit your money with a bank, the bank provides you interest in your deposits. We shall discuss both methods in this tutorial. If you deposit a small amount of money every month, your future value can be calculated using Excel’s FV function. Here, FV is the future value, PV is the present value, r is the annual return, and n is the number of years. If you invest your money with a fixed annual return, we can calculate the future value of your money with this formula: FV = PV(1+r)^n. Return of your money when compounded with annual percentage return.With inflation, the same amount of money will lose its value in the future. The future purchase power of your money.The future value of money can be thought of in two ways: ![]() This is why holding cash is a bad idea in the investment world. So, inflation devalues the cash and increases the price of the product. So, with your holding of $100 cash, you cannot buy the same product after 1 year that you could buy 1 year before. If we see the general pricing of things, the $100 product will be priced now at $104. If you still hold the cash ($100), after 1 year, your purchase power will be lower ($96) with that $100 cash. And the projected inflation for the next 1 year is 4%. So, most of the time, we see the prices of things are going up. In the following image, we are seeing the inflation and deflation picture of the USA for the last around 100 years.įrom the year 1920 to 1940 (20 years), deflation occurred more than inflation. The prices of things go down in the deflation period. The prices of things go up and this is called inflation. I hope these tools are helpful for other composers and welcome any feedback to improve them, thanks.Related Articles What Is Inflation and How It Affects Our Lives?īefore going into the calculations, I will introduce you to several terms like: ![]() (And nothing I could find worked across both Google Sheets and Excel). The (recovering former) software engineer in me couldn't resist putting together this set of timecode custom functions, since I wasn't really happy with any of the existing timecode + spreadsheets code floating around. setting up any statuses you want), and then adds a few more features I was looking for (like letting you list out specific working days, rather than assuming you are working 7 days a week - maybe naively optimistic ). only one status column rather than separate checklists), doesn't have anything about licensing music, is a little more customizable ( e.g. Differences in short: this Music Log simplifies a few things ( e.g. Spreadsheet users should absolutely also check out Shie Rozow's excellent Show Cue Manager spreadsheet (linked at the bottom of that post), which I borrowed a few great ideas from. I also know CueDB has many outspoken happy users, so awesome if that's already working well for you. I tried to set something up with solid essentials but that was then very customizable. Here's an overview video that shows all of that:Īs I mention in the video, I'm certainly not trying to create the one-and-only Music Log template here, since different projects will have different tracking needs.
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