interest rate when compounded daily for 5 years
Hi,
If i understand correctly:
Say A1 is $Amount
Say A2 is yearly-interest rate (say it is 6.1%. In cell as either 0.061 or
6.1%, but not just 6.1 without percent symbol)
Say A3 is number of compound period in a year
Say A4 is the period number you are interested in (same unit as number of
compound period in a year, A3)
Formula:
= A1 * ( 1 + A2/A3) ^ A4
Regards,
Sebastien
"Tom" wrote:
formula in Excel for an interest rate compounded daily for a CD for 5 years.
Also if possiable would like a formula that would be taking and sent to the
checking account on a monthy bases
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