LinkBack Thread Tools Search this Thread Display Modes
Prev Previous Post   Next Post Next
  #1   Report Post  
Posted to microsoft.public.excel.newusers
DB. DB. is offline
external usenet poster
 
Posts: 28
Default Interest calculations.

Here in UK, banks seeking depositors must (for comparison purposes)
quote the AER (Annual Equivalent Rate) for each type of account they
offer. So that although interest may be earned daily the AER tells us
what the accrued daily interest will total in a year's time. Thus
£2,000 invested on Jan.1st in an account offering 5.5% AER will have
£110 added a year later.
I wish to know what interest my deposit will have earned should I
close the account early. So:
In A1 I put the sum deposited.
In A2 I put the AER (as a percentage).
In A3 I put the number of days the money will have been in the account.

What must I put in A4 to calculate the interest I might expect?

TIA for any (all) reply (replies). As an old dog, slow at learning new
tricks, I regard you who answer our questions on this ng as geniuses!

--
DB.


 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules

Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
interest calculations Tess Excel Worksheet Functions 1 April 2nd 08 04:21 PM
to compute interest rate from principal and interest amount PVJ Excel Discussion (Misc queries) 3 December 28th 05 05:01 PM
Interest and capital calculations mattguerilla Excel Discussion (Misc queries) 1 December 28th 05 02:50 PM
Why are cumulative interest payment calculations different? New Soul Excel Worksheet Functions 2 July 18th 05 11:58 PM
Effective rate of Interest and Copounding Interest jnorton Excel Worksheet Functions 3 April 13th 05 03:11 AM


All times are GMT +1. The time now is 05:58 AM.

Powered by vBulletin® Copyright ©2000 - 2025, Jelsoft Enterprises Ltd.
Copyright ©2004-2025 ExcelBanter.
The comments are property of their posters.
 

About Us

"It's about Microsoft Excel"