Hi
I suck at this so be patient1
I'm trying to calculate interest using the formula
balance*days-since-last-translation*interest rate/36 I9*J9 *D7/365
I think its not working because d7 is formatted as a percentage (2.8%).
how do I get it to work?

hi,
formating should have nothing to do with it.
since you feel the formula isn't working, what are the numbers and what do
you think the results should be?

"leslie" wrote:

Hi
I suck at this so be patient1
I'm trying to calculate interest using the formula
balance*days-since-last-translation*interest rate/36 I9*J9 *D7/365
I think its not working because d7 is formatted as a percentage (2.8%).
how do I get it to work?

hey,
one the numbers are as follows;
1303.54*1*2.8%/365
that is I9*J9*D7/365
it should turn out to be .09
leslie
"FSt1" wrote:

hi,
formating should have nothing to do with it.
since you feel the formula isn't working, what are the numbers and what do
you think the results should be?

"leslie" wrote:

Hi
I suck at this so be patient1
I'm trying to calculate interest using the formula
balance*days-since-last-translation*interest rate/36 I9*J9 *D7/365
I think its not working because d7 is formatted as a percentage (2.8%).
how do I get it to work?

On Jun 24, 12:46 pm, leslie wrote:
I'm trying to calculate interest using the formula
balance*days-since-last-translation*interest rate/36 I9*J9 *D7/365
I think its not working because d7 is formatted as a percentage (2.8%).
how do I get it to work?

On Jun 24, 2:27 pm, leslie wrote:
one the numbers are as follows;
1303.54*1*2.8%/365
that is I9*J9*D7/365
it should turn out to be .09

And that computes to 0.099998 (rounded) -- closer to 0.10, but "close
enough", I think. Perhaps wherever you are reading "0.09" (a bank
statement?) chose to truncate the result, instead of round.

Anyway, the point is: your formula is correct, if you are trying to
compute interest based on daily balance. You merely have a couple
insignificant typos in your description, namely: (a) it is "day since
last __transaction__" (not translation); and (b) it is "/365" (not /
36).

So why do you think your result is wrong?

You neglected to say what is the result of __your__ calculation.