Interest calculation

  • Thread starter Thread starter Guest
  • Start date Start date
G

Guest

I need a formula to calculate compound interest capitalized monthly to a given date
 
Hi Greg!

=Amount*(1+RatePerMonth)^(NoOfMonths)-Amount

But if you don't have exact months you need to determine the daily
effective equivalent of the monthly rate:

RatePerDay=(1+RatePerMonth)^(12/365)-1

Then use:

=Amount*(1+RatePerDay)^(EndDate-StartDate)-Amount

Or combining the formulas:

=Amount*(1+((1+RatePerMonth)^(12/365)-1))^(EndDate-StartDate)-Amount
 
You must log in or register to reply here.

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Similar Threads

How do I calculate interest? 1
Formula to calculate compound interest on increasing principal 1
Compound Interest 5
Calculating interest due on late loan payments 1
compound interest 3
Mortgage Amortization - Canadian semi annual compounding 1
Calculation of Compounded Interest on a debt 6
Help to create amortization schedule 0

Back
Top