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# Thread: How to calculate daily compound interest

1. ## How to calculate daily compound interest

I am trying to set up my excel to calculate daily compound interest.

The amount is 10,000 at 0.75% per day for 6 months.

I have tried several different things with no success - help please

2. ## Re: How to calculate daily compound interest

Not sure if this will help

******** ******************** ************************************************************************>
 Microsoft Excel - Book1 ___Running: 11.0 : OS = Windows XP
 (F)ile (E)dit (V)iew (I)nsert (O)ptions (T)ools (D)ata (W)indow (H)elp (A)bout
 B2C2B3C3B4C4B5C5 =

A
B
C
D
1
100000.75%
2
day 1\$0.21\$10,000.21
3
day 2\$0.21\$10,000.41
4
day 3\$0.21\$10,000.62
5
day 4\$0.21\$10,000.82
 Sheet1

[HtmlMaker 2.42] To see the formula in the cells just click on the cells hyperlink or click the Name box
PLEASE DO NOT QUOTE THIS TABLE IMAGE ON SAME PAGE! OTHEWISE, ERROR OF JavaScript OCCUR.

Copy formulae down to row 184 and Cell C184 (dAY 183) will show \$10037.67

Pedro

4. ## Re: How to calculate daily compound interest

Doesn't that calculate .75% per annum???

I am looking to figure out .75% per day compounded.

5. ## Re: How to calculate daily compound interest

Originally Posted by Stormseed
Both of those are still annual interest. Need to figure out daily compounded.

I know that if a1(principal(10,000))*0.75%=75

How do i make the formula to figure out what that would be the next day - ie 10,075*0.75 and so on. Is there also a way to have it show me what it would be in 182 days without having to have 182 lines?

7. ## Re: How to calculate daily compound interest

******** ******************** ************************************************************************>
 Microsoft Excel - Book1 ___Running: 11.0 : OS = Windows XP
 (F)ile (E)dit (V)iew (I)nsert (O)ptions (T)ools (D)ata (W)indow (H)elp (A)bout
 B2C2B3C3B4C4B5C5B6C6B7C7B8C8 =

A
B
C
D
1
100000.75%
2
day 1\$75.00\$10,075.00
3
day 2\$75.56\$10,150.56
4
day 3\$76.13\$10,226.69
5
day 4\$76.70\$10,303.39
6
day 5\$77.28\$10,380.67
7
day 6\$77.86\$10,458.52
8
day 7\$78.44\$10,536.96
 Sheet1

[HtmlMaker 2.42] To see the formula in the cells just click on the cells hyperlink or click the Name box
PLEASE DO NOT QUOTE THIS TABLE IMAGE ON SAME PAGE! OTHEWISE, ERROR OF JavaScript OCCUR.

8. ## Re: How to calculate daily compound interest

Well they kinda helped - this is what i have done

a1 = starting balance
b1 = interest rate
c1 = interest earned (a1*b1)
d1 = a1+c1
a2 = d1
b2 = interest rate

and so on for 182 days

is there a better way?

---------
pedro-egoli - that is exactly what i have done - is there a way though to get A2 to = 182 days

9. ## Re: How to calculate daily compound interest

Hi

=StartingBalance * (1 + Rate)^NumberOfDays

ie:

=10000*(1+0.0075)^182

10. ## Re: How to calculate daily compound interest

Originally Posted by RichardSchollar
Hi

=StartingBalance * (1 + Rate)^NumberOfDays

ie:

=10000*(1+0.0075)^182

Thank you - that is exactly what i needed

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