Solved Compounded Daily Interest Formula

July 9, 2013 at 06:11:22
Specs: Windows 7
I am looking for a formula that will give me the daily grand total with principle and interest at any given time. Principle is $10000.00 and interest rate is 3% per annum computed for the actual number of days principal is unpaid, on the basis of a 365 day year, on the unpaid balance. How can I show this?

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#1
July 9, 2013 at 13:21:08
I have forgotten most of what I learned in Accounting 101,
so the best I can offer is to look here,

http://support.microsoft.com/kb/213907

see if it points you in the right direction.

MIKE

http://www.skeptic.com/


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#2
July 10, 2013 at 10:33:37
Anyone else have any ideas? I don't know the term of the loan. I just want to see how much interest and what the final amount owed is at any given day.

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#3
July 10, 2013 at 10:50:57
✔ Best Answer
Try here:

http://office.microsoft.com/en-us/e...

It's an Excel template for a simple Loan Amortization Schedule see if that works for you.

MIKE

http://www.skeptic.com/


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