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What would you do without your computer? Without the internet? Without your phone? Without your car? Try these out and see if you can survive without them for a few days. Try to keep some semblance of sanity by getting up and moving around, even just stretching. Doing some yoga or meditating may also help. And don't forget to eat healthy food! It will be tough at first, but after a week or so you will adapt and continue to live without them with ease and satisfaction. Excelsior! We have successfully completed the experiment. Congratulations on finishing this spellbinding exercise in data manipulation! You now have a firm grasp on how to work with numbers, much more so than before you started the experiment. Take a vacation from analyzing data and prevent further spread of Excel Fever!
Do you have a friend who has a lot of debt—a huge credit card debt, a high interest loan, or an enormous mortgage? What if I told you that there was a way out? What if I told you that it could be done legally and reasonably with very little effort from your part? What if I told you about "The Excel Magic Formula". In a nutshell, your friend becomes a "limitor" and will be able to continue buying things, while paying less and less for them thanks to the power of compound interest.Consider this: we pay $100 dollars per year on our credit card (with an 18% APR). Every year we pay $100 dollars and every day we decrease the principle by some small amount. If we decrease it by 1 cent per day (which is not hard to do over the course of a year), at the end of the year we will have saved $55 (or 55 cents).But wait! When we add up all those penny's, what do we get? We get 55 cents times 365 days in a year. How about that? We save a total of $367 a year by reducing the yearly interest by a penny each day.A little math tells us that we will actually save $1,100 (or $100 + $367) over the course of 10 years if we use this "Magic Formula".This is not an accident. Simply applying the Magic Formula to reduce the interest on credit card debt will yield results that far exceed any possible benefit from simply paying down any loan or credit card balance.So, what is this magical formula anyway? It might help if I explain how it works in its basic form:Limitor=yearly amount + (compounding interest * number of days). Here is an example:Working with the numbers above, we see that our debtor will save $1,100 over the course of 10 years. But why?The answer lies in how mortgages, loans and other forms of borrowing work. Compound Interest = Annual Interest * (1 + Annual Interest) ^ Number of Years Applied. In this equation, "Compounded Interest" is calculated once per year.In order to make the formula work for a given length of time, we multiply each side by 365 to solve for Number of Years: Compounded Interest = Annual Interest * (1 + Annual Interest) ^ 365 .
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