interest rate when compounded daily for 5 years
 

formula in Excel for an interest rate compounded daily for a CD for 5 years.
Also if possiable would like a formula that would be taking and sent to the
checking account on a monthy bases

interest rate when compounded daily for 5 years
 

Hi,
If i understand correctly:

Say A1 is $Amount
Say A2 is yearly-interest rate (say it is 6.1%. In cell as either 0.061 or
6.1%, but not just 6.1 without percent symbol)
Say A3 is number of compound period in a year

Say A4 is the period number you are interested in (same unit as number of
compound period in a year, A3)
Formula:
= A1 * ( 1 + A2/A3) ^ A4

Regards,
Sebastien
"Tom" wrote:

formula in Excel for an interest rate compounded daily for a CD for 5 years.
Also if possiable would like a formula that would be taking and sent to the
checking account on a monthy bases