Calculating Daily Interest

Aidan

Board Regular
Joined
May 14, 2004
Messages
120
hi guys,

Using a loan calculator to show daily interest charges. Can't get the formula quite right.

Using the following:

c18*((1+(Interest_Rate/100))^((K18/365)-1))

where c18 is the beginning balance and k18 is the amount of days since the last payment. no matter what figure i put into c18 it comes out at £1!

any help would be appreciated.

Cheers


Aidan
 

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