Calculating Daily Interest

[Aidan]

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

 

[mosiki]

=C18*(((1+(interest rate/100))^(K18/365))-1)

 

[Aidan]

Cheers Mosiki