Calculating Interest Amount
I'm trying to insert the formula for the correct results below. Here's what
I have:
Int Rate Int. Amt
Total Principal No of days (L+1.5%)
69,000,000.00 182 7.46875 2,605,348.96
I would like to achieve this Int. Amt result by using a formula. I was told
that I could just multiply the Total Principal * Int Rate, but when I insert
that formula, my results are $515,343,750.00.
Any suggestions?
Thanks in advance,
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