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how to calculate compound interest between two dates. Rate - The interest rate per period. Divide by 365 to get what portion of a year you have.
Compound Interest Mini Lesson Compound Interest Lesson Mini Lessons Middle School Math Resources from www.pinterest.com
In this case the principal for year 2 would be 1000 60 1060. FVSCHEDULE formula returns the future value of an initial principal after applying a series of compound interest rates. Calculate the number of days in the period.
The balance after 3 years is therefore 5750.
With Compound Interest we can work out the interest for the first year add it to the totaland then calculate the interest for the next year and continue the same till the given time in years. If you enter a positive value for the number of days the end date will be updated. Enter an amount and a nominal annual interest rate. Updated May 17 2020 Compound interest is interest thats calculated both on the initial principal of a deposit or loan and on all previously accumulated interest.
