So you have a date issue, rather than an interest calculation issue. Your
problem is your dates are text. To convert them into dates which Excel can
use in its calculations, use the Datevalue function, as in:

=a3*(datevalue(a2)-datevalue(a1))/365

And, if you want, you can easily avoid the requirement to use Datevalue
function by entering your dates in a form that Excel can understand, like
10/12/07 and 12/22/07. You can format the date any way you want after it's
been entered.

Regards,
Fred

"Legal Learning" wrote in message
...
Thanks Fred. However, how does it calculate the number of days between
one
date and another. Simply putting in two dates does not calculate it. For
example: a1 would be October 12, 2007 and a2 would be December 22, 2007.
I
need for Excel to calculate the number of days between those two dates
before
I can calculate any interest. Right? How would one go about that. Isn't
there a built in function of some type?

Thanks for you help!
--
CLG


"Fred Smith" wrote:

The best way is to describe your problem in non-Excel terms. Then we can
translate it into Excel. Without a decent description, we can only guess
at
what you need.

In non-Excel terms, my guess is you want to:

1. Calculate the number of days in the period.
2. Divide by 365 to get what portion of a year you have.
3. Multiply by the interest rate.

In Excel terms, if you have A1 as the starting date, A2 as the ending
date,
and A3 as the interest rate, your formula is:

=a3*(a2-a1)/365

Regards,
Fred.

"Legal Learning" wrote in
message
...
Can someone tell this NON-Excel folk how to create a formula to do
this?

Much appreciated!
--
CLG