Computing simple interest
 

What's the easiest way to compute the annual percentage rate on a given cell.
I typically multiply the principal amount by the interest rate/divide by
365/and then multiply by the number of days since the loan was made. Is
there an easier way to do this by use of one of the date/time functions in
Excel?

Thanks.

Computing simple interest
 

Look in the help index for RATE. That will steer you to all of the excel
financial functions.

--
Don Guillett
SalesAid Software

"Davis" wrote in message
...
What's the easiest way to compute the annual percentage rate on a given
cell.
I typically multiply the principal amount by the interest rate/divide by
365/and then multiply by the number of days since the loan was made. Is
there an easier way to do this by use of one of the date/time functions in
Excel?

Thanks.

Computing simple interest
 

So, you have principal, interest rate, compunding frequency
And want just the annual interest rate.


You'll want:

=ISPMT()
Requires Rate per period, interest period you're searching for, nuber of
periods in an annuity, and present value of the field.

You can have the periods section as a sum of dateB-dateA...


"Davis" wrote:

What's the easiest way to compute the annual percentage rate on a given cell.
I typically multiply the principal amount by the interest rate/divide by
365/and then multiply by the number of days since the loan was made. Is
there an easier way to do this by use of one of the date/time functions in
Excel?

Thanks.

Computing simple interest
 

I really wasn't very clear on what I was looking for. I just want to easily
view the amount of interest due based on today's date. I have a number of
loans outstanding and would like to easily see what the payoff is for today.

"Sean Timmons" wrote:

So, you have principal, interest rate, compunding frequency
And want just the annual interest rate.


You'll want:

=ISPMT()
Requires Rate per period, interest period you're searching for, nuber of
periods in an annuity, and present value of the field.

You can have the periods section as a sum of dateB-dateA...


"Davis" wrote:

What's the easiest way to compute the annual percentage rate on a given cell.
I typically multiply the principal amount by the interest rate/divide by
365/and then multiply by the number of days since the loan was made. Is
there an easier way to do this by use of one of the date/time functions in
Excel?

Thanks.

Computing simple interest
 

That sounds like:

IPMT(Interest per year/number of compounds in a year, today - start date,
total number of periods in the loan, principal of loan)

so, if interest rate in a year is 10%, compounded monthly, start date was
1/3/06, loan was for 10 years, principal was $1000:
assume start date was A2, today is B2,

=IPMT(.1/12, round((B2-A2)/30), 120, 1000)

should get you there...

"Davis" wrote:

I really wasn't very clear on what I was looking for. I just want to easily
view the amount of interest due based on today's date. I have a number of
loans outstanding and would like to easily see what the payoff is for today.

"Sean Timmons" wrote:

So, you have principal, interest rate, compunding frequency
And want just the annual interest rate.


You'll want:

=ISPMT()
Requires Rate per period, interest period you're searching for, nuber of
periods in an annuity, and present value of the field.

You can have the periods section as a sum of dateB-dateA...


"Davis" wrote:

What's the easiest way to compute the annual percentage rate on a given cell.
I typically multiply the principal amount by the interest rate/divide by
365/and then multiply by the number of days since the loan was made. Is
there an easier way to do this by use of one of the date/time functions in
Excel?

Thanks.