Hi, What is the correct excel formula to calculate the monthly interest on
an interest only mortgage of £100,000 at a rate of 3.75% per year where the
interest is calculated daily?
At present I use

=((C22*C19)/12)

where C22 is £100,000 and C19 is 3.75% but the result is not the same as
what I am being charged each month.
Thanks, Tracy