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Thread: Calculating acruing interest in microsoft.public.excel.misc
Started 1 month, 1 week ago by DRKENNE
I'm looking for a formula (simple I hope) that would calculate interest that's been accruing at an annual rate of 10% on $10,500 that should have been paid on 3/6/07 and no payment has been made. Since there is no end date at this time, I'd be using the date (today) of the calculation....
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Joe User replied 1 month, 1 week ago
"DRKENNE" wrote: > I'm looking for a formula (simple I hope) that would calculate interest > that's been accruing at an annual rate of 10% on $10,500 that should have > been paid on 3/6/07 and no payment has been made. Since there is no end date > at this time, I'd be using the date (today) of the calculation. So many details...
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Joe User replied 1 month, 1 week ago
PS.... I wrote: > So many details are missing. I don't see how anyone can offer > you a formula, much less a simple one, unless they get lucky in > their ass-u-me-tions. Another potentially important question: is the 10% the simple (nominal) annual interest rate, or is it the compounded annual rate (aka yield)?...
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DRKENNE replied 1 month, 1 week ago
The money was due on 3/6/07 and the interest is compounded annually starting on that date. "Joe User" wrote: > PS.... > > I wrote: > > So many details are missing. I don't see how anyone can offer > > you a formula, much less a simple one, unless they get lucky in > > their ass-u-me-tions. > > ...
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Joe User replied 1 month, 1 week ago
"DRKENNE" wrote: > The money was due on 3/6/07 and the interest is > compounded annually starting on that date. So I think my previous lucking guess will work for you, with one small change, namely changing 2006 to 2007. A1, number of full years: =DATEDIF(DATE(2007,3,6),TODAY(),"y") A2, accrued interest:...
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Top contributing authors

Name
Posts
Joe User
3
user's latest post:
Calculating acruing interest in...
Published (2009-11-09 11:06:00)
&nbsp; &quot;DRKENNE&quot; wrote: &gt; The money was due on 3/6/07 and the interest is &gt; compounded annually starting on that date. So I think my previous lucking guess will work for you, with one small change, namely changing 2006 to 2007. A1, number of full years: =DATEDIF(DATE(2007,3,6),TODAY(),&quot;y&quot;) A2, accrued interest: =FV(10%,A1,0,-10500) * (1 + (DATE(2007+A1,3,6)-TODAY())*10%/365) - 10500 If...
DRKENNE
2
user's latest post:
Calculating acruing interest in...
Published (2009-11-09 10:45:00)
&nbsp; The money was due on 3/6/07 and the interest is compounded annually starting on that date. &quot;Joe User&quot; wrote: &gt; PS.... &gt; &gt; I wrote: &gt; &gt; So many details are missing. I don't see how anyone can offer &gt; &gt; you a formula, much less a simple one, unless they get lucky in &gt; &gt; their ass-u-me-tions. &gt; &gt; Another potentially important question:...

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