Thanks so much. I am saved.

"Duke Carey" wrote:

Put the dates in cells A1 & A2, oldest date first
Put the Amount in A3 and the Rate in A4

in B1 use this formula

=(1+A4/365)^(A2-A1)-1

That will tell you what the total interest rate is.

In B2 use the formula

=B1*A3

That's the total interest owed



"Calculation limited" wrote:

I need to calculate compounded daily interest on an amount owed by a debtor.
Can someone give me a excel formula. I am not a math please layman terms. I
know the principal of how it works but don't want to spend a day doing it by
calculator. Amount 4324.13 @23.99% from 10/22/03 to 8/23/05