Red over White
Board Regular
- Joined
- Jul 16, 2011
- Messages
- 123
- Office Version
- 365
- Platform
- MacOS
I'm trying to establish how many days it will take the principal sum {PS} (say £1,000) to increase by £2 (but not exceed £1,002) when the interest rate {IR} is 5.50%. I know the answer {AN} is 13, because I have set up a formula using PS, IR, AN along with '/365'. The formula reads =K27*K29/365*K31 {or PS*IR/365*AN}. However, I have not been able to reverse engineer the formula to get to a figure close to 13, let alone put a limiter of £2.00 into the mix.
Any suggestions ...
Any suggestions ...