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how to calculate daily compound interest rate in excel. For example if your interest rate is three percent you would type 003 into B2. In cell B2 type in the percentage of the interest that you have to pay each period.
How Do I Calculate Compound Interest Using Excel from www.investopedia.com
Effective Interest rate 1 0061212 1 00617 61679. FVC6 C8 C7 C80 - C5. For the daily compound interest formula use 365 as the parameter for Number of compounding periods per year.
6 Enter the number of payments you have left.
As with all Excel formulas instead of typing the numbers directly into your compound interest formula you can use references to cells containing numbers. F P 1 rate nper F - FV rate nper P F FV rate nper-P. Thats why the banks make so much money. Effective Interest rate 1 0061212 1 00617 61679.