Savings interest

**adbasanta** · 10-05-2011, 09:35 AM

I need to create a formula that will compute the interest earn by a certain savings deposits..
The regular savings interest rate is 5% per annum and the interest earned is posted on clients passbook every quarter base on the annual interest rate and is computed daily base on deposits & withdrawals..

Attached is the sample account!

Thank you for helping!

**alansidman** · 10-05-2011, 10:37 AM

Try the attached.

**adbasanta** · 10-05-2011, 08:42 PM

Originally Posted by alansidman

Try the attached.

Thank you sir for the reply!..But how about the remaining 1 month of that quarter which the depositor has no transaction..

In the example that was attached..It is from July to September, but the depositor had only made transactions on the month of July & August..Does the money will earned interest on September even without transaction? what should i revise on the formula if this is the case?

Thank you sir!