Formula to Calculate Compounded Percentage Per Year
Im not sure how you get 798 from subtracting 4/7/2007 and 4/7/2005. But you
can create a formula using that number of days that looks like this
=(14000*(1+.06)^(798/366))
And you can put the values in to cells... like change 14000 to A1 and 798 to
a cell where you get the difference from.
"Dermot" wrote:
Problem
Can anyone provide me with a formula to calculate 6% per year on an amount
of currency (14,000), for a period determine between two dates inclusive.
My Thoughts
Determine the number of days using the formula:
Start date 4/7/2005 End date 4/7/2007
=DATEDIF(A2,B2+1,"d") = 798 days
Then work out the 6% annual amount for every 366 days and remaining 66 days.
Not sure how to do this though...and I think I am overcomplicating the
calculation
Thanks in advance
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