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How can we use Excel to calculate interest with daily compounding
If you have an annual interest rate - say 5%, you calculate daily compounded
interest by: =((1+5%/365)^(#days)-1)*principal amount If your principal amount is $1,000 and the # of days is 60, then the interest is $8.25 vs $8.22 simple interest "Myra" wrote: Would like to create worksheet with daily compounding but without having to set a row per day. Any suggestions? |
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