Calculating intertest
 

Is there a formula to caluculate interest easly.

I have different deposit dates
Different dates that interest rates changed mostly in the middle of a month
never on the same day of a month.

I must calculate interest and interest must be added to the deposit after a
year.

Thanks

Do you mean simple interest or compound interest? - and is the first
year interest free? - or is interest to be added to the account 12
months after it is calculated, or is the interest for a year
accumulated and added to the due amount at the end of a year?

If the interest is 'Simple Interest', is there a need to check that the
repayments for the year exceed the interest for the year, to ensure that
interest is not charged on interest already debited? - or does the law
of your country permit this?



Esrei Wrote:
Is there a formula to caluculate interest easly.

I have different deposit dates
Different dates that interest rates changed mostly in the middle of a
month
never on the same day of a month.

I must calculate interest and interest must be added to the deposit
after a
year.

Thanks


--
Bryan Hessey
------------------------------------------------------------------------
Bryan Hessey's Profile: http://www.excelforum.com/member.php...o&userid=21059
View this thread: http://www.excelforum.com/showthread...hreadid=393253

"Bryan Hessey" wrote:


Do you mean simple interest or compound interest? - and is the first
year interest free? - or is interest to be added to the account 12
months after it is calculated, or is the interest for a year
accumulated and added to the due amount at the end of a year?

If the interest is 'Simple Interest', is there a need to check that the
repayments for the year exceed the interest for the year, to ensure that
interest is not charged on interest already debited? - or does the law
of your country permit this?

The initail deposit amount stay the same no exstra withdrawals of deposits
Interest is for 12 mounths to be added to the initial deposit after the
first 12 mounths. Interest changes during the year
This is interest on shareholders loans.
The initial amount is 10000


Esrei Wrote:
Is there a formula to caluculate interest easly.

I have different deposit dates
Different dates that interest rates changed mostly in the middle of a
month
never on the same day of a month.

I must calculate interest and interest must be added to the deposit
after a
year.

Thanks


--
Bryan Hessey
------------------------------------------------------------------------
Bryan Hessey's Profile: http://www.excelforum.com/member.php...o&userid=21059
View this thread: http://www.excelforum.com/showthread...hreadid=393253

For each row, (a row being a new interest period) the date 'from' is in
column A and is the date 'to' from the previous row +1.
The date 'to' is in column B and is the date to which the current rate
applies. The 'days' to calculate are in Column C and are
=datedif(a1,a2,"d")+1
The interest rate is in column D and is (say) 7%
The interest is 10000*c1*d1/365
(the initial 10000 should be located in a column of your choice)

At the end of the year the total of D1 to Dnn (however many rows were
used) is the total interest for the year.

The figure of 10000 should be reduced by any (re-)payment at the time
of that payment (usually none)

Hope this helps


Esrei Wrote:
"Bryan Hessey" wrote:


Do you mean simple interest or compound interest? - and is the first
year interest free? - or is interest to be added to the account 12
months after it is calculated, or is the interest for a year
accumulated and added to the due amount at the end of a year?

If the interest is 'Simple Interest', is there a need to check that
the
repayments for the year exceed the interest for the year, to ensure
that
interest is not charged on interest already debited? - or does the
law
of your country permit this?

The initail deposit amount stay the same no exstra withdrawals of
deposits
Interest is for 12 mounths to be added to the initial deposit after
the
first 12 mounths. Interest changes during the year
This is interest on shareholders loans.
The initial amount is 10000


Esrei Wrote:
Is there a formula to caluculate interest easly.

I have different deposit dates
Different dates that interest rates changed mostly in the middle of
a
month
never on the same day of a month.

I must calculate interest and interest must be added to the
deposit
after a
year.

Thanks


--
Bryan Hessey

------------------------------------------------------------------------
Bryan Hessey's Profile:
http://www.excelforum.com/member.php...o&userid=21059
View this thread:
http://www.excelforum.com/showthread...hreadid=393253




--
Bryan Hessey
------------------------------------------------------------------------
Bryan Hessey's Profile: http://www.excelforum.com/member.php...o&userid=21059
View this thread: http://www.excelforum.com/showthread...hreadid=393253