I need to calculate compounded daily interest. Can someone give me the excel
formula? I need to calculate it on various amounts and dates i.e. Amount pd
on 01/06/07 - R1000.00 @ 14.50% then I take that total add another payment of
let's say R100.00 made on 01/07/07 @ 13.50%. Interest should therefore
firstly be worked out on R1000.00 @ 14.50 from 01/06/07 - 30/06/07 and then
on the total plus the next payment of R100.00 @ 13.50% from 01/07/07 until
the next payment date. (In other words interest on interest.)