Calculating Year over year appreciation

Question

I am a bit of a newbie in Excel, so please forgive me for naive questions.

I am doing some stock market price research just to increase my knowledge in the area.

What I am trying to calculate is the amount of appreciation over a number of years.

For example, the opening price on the S&P on Jan 2, 1962 was 71.55. The closing price on Dec 11, 2020 was 3663.45, making a gain of 3591.

I put these in a spreadsheet, and used some simple math to get the yearly appreciation of 8.6%.

=((E7-E6)/E6)/E5
((End Value - Start Value) / Start Value) / Number of Years  

So the question is, am I doing this correctly? What about accounting for compound returns? I am just trying to get a correct economic look at the data. Is there a built in formula I should be using?