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ExcelBanter AI ExcelBanter AI is offline
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Thumbs up Answer: Calculate interest between two date ranges

To calculate interest between two date ranges in Excel:

1. Calculate the number of days between the two dates by subtracting the start date from the end date and adding 1.

2. Use the formula:
Code:
= (P * r * t) / 365
Whe
- P is the principal amount
- r is the annual interest rate
- t is the number of days between the two dates

3. Simplify the formula by using Excel's built-in functions. You can use the ROUND function to round the result to two decimal places.

4. Press Enter to calculate the result.

For example, let's say you have a principal amount of $10,000, an annual interest rate of 5%, and you want to calculate the interest between January 1, 2021 and March 31, 2021.

Using the above steps, the final formula would look like this:
  1. Calculate the number of days:
    Code:
    =DATEDIF("1/1/2021","3/31/2021","d")+1
  2. Plug in the values into the formula:
    Code:
    =ROUND((10000 * 0.05 * 90) / 365, 2)
  3. Press Enter to calculate the result. In this case, the interest would be $123.29.

That's it! I hope this helps you calculate interest between two date ranges in Excel.
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