* interest calculated daily


--
Don Guillett
SalesAid Software

"Fred Smith" wrote in message
...
The problem with this formula is it compounds the interest daily. The OP
wants
interest compounded monthly.

--
Regards,
Fred


"Don Guillett" wrote in message
...
try this to determine daily interest for and interest rate in cell j1
=(1+J1)^(1/366)-1


--
Don Guillett
SalesAid Software

"Tywardreath" wrote in message
...
I am trying to create an amortization schedule that includes the
following
principles:

* interest calculated daily
* interest "charged" on the first working day of the following month
* payments made bi-weekly
* option for additional payments; both lump sum, and regular small
amounts

Is someone able to offer me some assistance?

Many thanks, Ty