Joeu2004
How would you incorporate the "F" in the formula?

"Dermot" wrote:

Hi Joeu

Quote
A more precise formula might use 14000*6%*DATEDIF(A1,A2,"y") +
14000*6%*f/365, where "f" is the number of remaining days -- similar
to what you hypothesized in your original posting.

Sorry if that is not specific enough for your use. I have to think
more about how to compute "f". I believe there are also some
"gotchas" to beware when using DATEDIF. But I have to run.

Ah, it's the "F" part that I was trying to figure out how to incorporate
it.....without overcomplicating things......I've done a good job of that
already!!!

Thanks in advance


"joeu2004" wrote:

On Apr 22, 11:35 am, Dermot wrote:
It's annual statutory interest of 6% on each individual annual amount.

Again, it would help to know what type of investment you are talking
about. Sounds like a bond.

It might also help to know what country's laws control the "statutory"
interest rate.


The calculation is not compounded...it's an annual interest of 6% on the
first year
The second year is calculated separately at another 6% and then the
remaining days to get the value I am seeking....I am not sure what category
this would fall under but it's not compounded.

It is called simple interest.


What formula would you suggest for the above calculation.

For simple interest, the approximate formula would be:

=14000 * 6% * (A2 - A1) / 365

where A1 and A2 are the starting and ending dates of the investment
respectively.

A more precise formula might use 14000*6%*DATEDIF(A1,A2,"y") +
14000*6%*f/365, where "f" is the number of remaining days -- similar
to what you hypothesized in your original posting.

Sorry if that is not specific enough for your use. I have to think
more about how to compute "f". I believe there are also some
"gotchas" to beware when using DATEDIF. But I have to run.

Post back if you need details.