Home |
Search |
Today's Posts |
#1
Posted to microsoft.public.excel.worksheet.functions
|
|||
|
|||
Working out interest lost on a loan
I'm trying to work out how much interest I have lost by investing an
amount into a project. So, I'd have to use the following information which would be in my excel worksheet: date of loan: 25/4/2006 amount of loan 30000 interest rate potentialy earned at bank: 6% todays date: 20/6/2006 Excel should then work out how much interest has been lost by not having the money invested in a bank given the time elapsed between the date of loan and todays date. To obtain an accurate figure given compound interest I'd also need to tell it how often interest is paid - daily, monthy etc. So maybe another cell. interest interval : 12 (12 times per year for monthly) I've tried the financial funtions but they don't seem to quite fit - or maybe I'm not doing it correctly. Could anyone guide me to a formula that would help? Thanks, Mark. |
#2
Posted to microsoft.public.excel.worksheet.functions
|
|||
|
|||
Working out interest lost on a loan
Mark
I don't know how UK banks pay interest, but US banks generally pay daily compounded - actual/acutal interest. The interest would be $277.42: (1+0.06/365)^(enddate-startdate)*30000-30000 = 277.42 Don wrote in message oups.com... I'm trying to work out how much interest I have lost by investing an amount into a project. So, I'd have to use the following information which would be in my excel worksheet: date of loan: 25/4/2006 amount of loan 30000 interest rate potentialy earned at bank: 6% todays date: 20/6/2006 Excel should then work out how much interest has been lost by not having the money invested in a bank given the time elapsed between the date of loan and todays date. To obtain an accurate figure given compound interest I'd also need to tell it how often interest is paid - daily, monthy etc. So maybe another cell. interest interval : 12 (12 times per year for monthly) I've tried the financial funtions but they don't seem to quite fit - or maybe I'm not doing it correctly. Could anyone guide me to a formula that would help? Thanks, Mark. |
#3
Posted to microsoft.public.excel.worksheet.functions
|
|||
|
|||
Working out interest lost on a loan
Thanks Don,
This does exactly what I wanted. Mark. |
#4
Posted to microsoft.public.excel.worksheet.functions
|
|||
|
|||
Working out interest lost on a loan
Don wrote:
(1+0.06/365)^(enddate-startdate)*30000-30000 = 277.42 wrote: This does exactly what I wanted. If that is "exactly" what you wanted, since your original posting indicated a frustration with using Excel financial functions, it might interest you to know that the following financial function formulation does exactly the same thing: =fv(6%/365, date(2006,6,20) - date(2006,4,25), 0, -30000) - 30000 I am not convinced that either formula is "exactly" what you asked for. But I am confused by the way you expressed the question, so perhaps I misunderstood. |
Reply |
Thread Tools | Search this Thread |
Display Modes | |
|
|
Similar Threads | ||||
Thread | Forum | |||
Calculate total interest earned on a loan and monthly payment | Excel Worksheet Functions | |||
Getting XL to Calc Working Days Lost without using NETWORKDAYS() Function | Excel Discussion (Misc queries) | |||
Construction Loan Interest Formula | Excel Worksheet Functions | |||
Formula which splits principal & interest pmts on P&I Loan | Excel Worksheet Functions | |||
loan calculator cells, P&I formulas do not copy to second cloumn | Excel Worksheet Functions |