thunderfoot
Board Regular
- Joined
- May 28, 2004
- Messages
- 229
If I know the yearly interest Rate (5%) and I want to calculate the Monthly Interest Rate ..... what's the formulae?
I know my answer will be about 0.408% (D5) as I've used 'Goal Seek' in formulae =(1+D5)^12, where the result = 105%.
I did once work-out a formulae based on the formulae shown on the keypad of a scientific calculator but I no longer have the formulae nor the calculator!!!!
I know my answer will be about 0.408% (D5) as I've used 'Goal Seek' in formulae =(1+D5)^12, where the result = 105%.
I did once work-out a formulae based on the formulae shown on the keypad of a scientific calculator but I no longer have the formulae nor the calculator!!!!