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joeu2004

"Hardeep_kanwar" <Hardeep :
A1=6292
A2=2 Days
A3=5%
Now i want to Calculate the interest rate of 6292 of 2 Days @5% per Month.

First, anyone who charges 5% per __month__ should be shot. That's 60% per
year! I wonder if you mean 5% per year ;-).

Second, for a daily interest rate, you normally need to speicfy the month so
that you can determine the days per month. We could use 30 or 365/12. But
that is not really right.

Finally, if you want the interet __rate__, the amount is irrelevant. The
first formula below computes the interest __rate__. The second formula
computes the amount of interest. Both formulas assume a 30-day month. I
also assume that A2=2, not literally "2 Days".

=A2*A3/30

=A1*A2*A3/30

PS: If you truly meant that 5% is an annual rate, replace 30 with 365.