View Single Post
  #1   Report Post  
Posted to microsoft.public.excel.worksheet.functions
steve1040 steve1040 is offline
external usenet poster
 
Posts: 8
Default 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