On Thu, 18 Feb 2010 14:05:38 -0800 (PST), steve1040
wrote:

On Feb 18, 2:10*pm, tompl wrote:
What is the principal and when is it paid. *Are you talking about one
investment of $35.95 or a payment of $35.95 each week? *There is a formula
for computing future value, but I don’t understand your question.

Tom



"steve1040" wrote:
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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- Show quoted text -

35.95 paid weekly by me Every 7 days (Weekly) The interest will be
added to my account for the amount that is in my account.
So at the end of the first 7 days I should have a total
of
35.95 + 0.055 (Interest) = 36.01

Week 2 = 36.01 + Daily interest * 7

etc

Instead of doing this for each week I just want the total at the end
date



along with

It'd probably be 253.20 + 3 days interest at the end.

If so, the formula might be something like:

=FV(0.08/52,7+3/7,-35.95,,1)
--ron