Calculating intertest

[Guest]

Is there a formula to caluculate interest easly.

I have different deposit dates
Different dates that interest rates changed mostly in the middle of a month
never on the same day of a month.

I must calculate interest and interest must be added to the deposit after a
year.

Thanks

 

[Bryan Hessey]

Do you mean simple interest or compound interest? - and is the firs
year interest free? - or is interest to be added to the account 1
months after it is calculated, or is the interest for a yea
accumulated and added to the due amount at the end of a year?

If the interest is 'Simple Interest', is there a need to check that th
repayments for the year exceed the interest for the year, to ensure tha
interest is not charged on interest already debited? - or does the la
of your country permit this?

 

[Guest]

Do you mean simple interest or compound interest? - and is the first
year interest free? - or is interest to be added to the account 12
months after it is calculated, or is the interest for a year
accumulated and added to the due amount at the end of a year?

If the interest is 'Simple Interest', is there a need to check that the
repayments for the year exceed the interest for the year, to ensure that
interest is not charged on interest already debited? - or does the law
of your country permit this?

The initail deposit amount stay the same no exstra withdrawals of deposits

Interest is for 12 mounths to be added to the initial deposit after the
first 12 mounths. Interest changes during the year
This is interest on shareholders loans.
The initial amount is 10000

 

[Bryan Hessey]

For each row, (a row being a new interest period) the date 'from' is i
column A and is the date 'to' from the previous row +1.
The date 'to' is in column B and is the date to which the current rat
applies. The 'days' to calculate are in Column C and are
=datedif(a1,a2,"d")+1
The interest rate is in column D and is (say) 7%
The interest is 10000*c1*d1/365
(the initial 10000 should be located in a column of your choice)

At the end of the year the total of D1 to Dnn (however many rows wer
used) is the total interest for the year.

The figure of 10000 should be reduced by any (re-)payment at the tim
of that payment (usually none)

Hope this helps

Do you mean simple interest or compound interest? - and is the first
year interest free? - or is interest to be added to the account 12
months after it is calculated, or is the interest for a year
accumulated and added to the due amount at the end of a year?

If the interest is 'Simple Interest', is there a need to check tha the
repayments for the year exceed the interest for the year, to ensur that
interest is not charged on interest already debited? - or does th law
of your country permit this?

The initail deposit amount stay the same no exstra withdrawals o

deposits
Interest is for 12 mounths to be added to the initial deposit afte
the
first 12 mounths. Interest changes during the year
This is interest on shareholders loans.
The initial amount is 10000