Calculate Daily Interest, Paid out Weekly
Not sure if the subject makes sense
I have 2 dates
Rate = 8%
Start = 12/28/2009
End = 2/18/2010
This is 7 weeks 3 days
Daily interest = .08/365 = 0.02192%
How do I find what the total for say $35.95 and the end of the period
02/18/2010 - If daily interest is applied at the end of every week.
1. Do I add the 3 days to 35.95 before calculating week1?
2. Is there a built in function that does this
I'm thinking the total should be around 253.20 + the 3 days
Thanks
Steve
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