Hello!
I'm in the process of building a new home. I have built an Excel sheet that adds up each draw on my loan. I would like to put in a formula that calculates a daily interest based on amounts as they are drawn from the bank. I'm not paying any principal on the loan during the 9 month construction phase. The monthly rate is 6.9% Can someone help me with a formula that calculates interest as draws are taken on the loan?
Thanks,
EGavin
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