Try

=A1*((1+((D1)/365))^(C1))-A1
where A1 = opening balance,
D1 = interest rate
C1 = days

where C1 would be days in this month.


rray0032 Wrote:
What is the formula to enter to obtain for example the yearly or
monthly
interest earned on an account with an opening deposit of $1000.00 that
has an
APY of 2.9% and is compounded daily with the interest credited on a
monthly
basis?


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Bryan Hessey
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