Home |
Search |
Today's Posts |
#1
Posted to microsoft.public.excel.misc
|
|||
|
|||
formula for interest
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? |
#2
Posted to microsoft.public.excel.misc
|
|||
|
|||
formula for interest
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? |
#3
Posted to microsoft.public.excel.misc
|
|||
|
|||
formula for interest
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? |
#4
Posted to microsoft.public.excel.misc
|
|||
|
|||
formula for interest
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. |
Reply |
Thread Tools | Search this Thread |
Display Modes | |
|
|
Similar Threads | ||||
Thread | Forum | |||
Basic Future Value Formula & Interest Rate Formula | Excel Discussion (Misc queries) | |||
to compute interest rate from principal and interest amount | Excel Discussion (Misc queries) | |||
Interest Formula | Excel Discussion (Misc queries) | |||
interest formula | Excel Discussion (Misc queries) | |||
Effective rate of Interest and Copounding Interest | Excel Worksheet Functions |