calculating 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?

calculating interest
 

hey

I get 0.99998 using =1303.54*1*2.8%/365

What are you getting and what don't you like about it?


Gord Dibben MS Excel MVP


On Sun, 24 Jun 2007 15:49:00 -0700, leslie
wrote:

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?

calculating interest
 

I hope you mean 0.099998, Gord?
--
David Biddulph

"Gord Dibben" <gorddibbATshawDOTca wrote in message
...

I get 0.99998 using =1303.54*1*2.8%/365

What are you getting and what don't you like about it?

On Sun, 24 Jun 2007 15:49:00 -0700, 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

"FSt1" wrote:
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?

calculating interest
 

On Jun 24, 12:46 pm, leslie wrote
in another thread:
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, 3:49 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

Can we please have only one thread for this discussion. As I
responded in your original thread....

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.