To get back to the mathematical calculation of compound interest. South/Gonk - What does to the power of actually mean, I don't have this button on my calculator - alternatively where do I find this symbol in excel. I can do compound interest the long hand way in excel. Also how do you change the 5% interest to 1.05 is it if it's 6% 1.06 and if it's 10% 1.10 meaning 10% plus the 1 = 1.10. Also didn't understand the 1/3 calculation, I'm assuming you dividing the total amount over 3 years to 1 year to get annual but for sure don't know how you do this.