Need a excel sum formula? ?

Question

A simple example is that a house is worth 508,000 US dls and is being increase .003 percent how do I make that formula in excel to give me 581,740? With a calculator you enter the amount times the 1.003 and it gives me the answer. Thanks.

Answer 1

do the same in excel

either type in =508000*1.003

or if you have 508000 in cell A1

then in cell B1 (or where ever) type in

=A1*1.003