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Thread: How to calculate daily compound interest

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    Question 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

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    Default 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
    =

    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    PLEASE DO NOT QUOTE THIS TABLE IMAGE ON SAME PAGE!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

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    Default Re: How to calculate daily compound interest


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    Default Re: How to calculate daily compound interest

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

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

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    Default Re: How to calculate daily compound interest

    Quote Originally Posted by Stormseed View Post
    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?

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    Last edited by Stormseed; Apr 10th, 2008 at 02:15 AM.

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    Default 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
    =

    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.

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    Default 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
    Last edited by wmlbrn; Apr 10th, 2008 at 02:24 AM. Reason: adding more info

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    Default Re: How to calculate daily compound interest

    Hi

    =StartingBalance * (1 + Rate)^NumberOfDays

    ie:

    =10000*(1+0.0075)^182
    Richard Schollar

    Using xl2013

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    Default Re: How to calculate daily compound interest

    Quote Originally Posted by RichardSchollar View Post
    Hi

    =StartingBalance * (1 + Rate)^NumberOfDays

    ie:

    =10000*(1+0.0075)^182

    Thank you - that is exactly what i needed

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