I have a series of loan transactions that I need to calculated the
daily interest on.

Example

12/31/03 (Beg. Bal) 50,000
01/08/04 100
01/10/04 100
01/26/04 100
02/22/04 (Payment) -100
02/26/04 (Payment) -100
03/15/04 1,000
03/28/04 1,000
09/01/04 (Payment) -300
09/01/04 (note - same day - many like this) 100
12/31/04 (Payment) -3,000
12/31/04 (End Bal) 48,900

How do I calculate the interest on a daily basis?

If possible I would like to use excel functions, but if not possible I
need help with the macro.

Thanks for the help!