+ Reply to Thread
Results 1 to 3 of 3

Calculate the daily interest rate on an overdue invoice

  1. #1
    Registered User
    Join Date
    08-20-2014
    Location
    Denver, CO
    MS-Off Ver
    Office Home and Business 2013
    Posts
    2

    Calculate the daily interest rate on an overdue invoice

    I can't find the answer to this relatively simple question so perhaps someone can direct me. I need to calculated the interest on past due invoices on a daily basis.

  2. #2
    Registered User
    Join Date
    08-20-2014
    Location
    Denver, CO
    MS-Off Ver
    Office Home and Business 2013
    Posts
    2

    Re: Calculate the daily interest rate on an overdue invoice

    I am able to calculate the days past due using the DAYS360 function so I have that part. I tried the FV (future value) function but it just doesn't look right so I don't think I'm using it correctly. We charge 1.5% per month interest. Can someone direct me to an existing post that answers my question? Thanks.

  3. #3
    Forum Contributor Jack7774's Avatar
    Join Date
    08-31-2012
    Location
    Georgia, US
    MS-Off Ver
    Excel 2010
    Posts
    576

    Re: Calculate the daily interest rate on an overdue invoice

    There are several ways to do this so it really depends on how you would like to do this.

    In some cases companies use a 360 day year and some use 365.

    Principal x interest rate = $ interest for that period of time
    IE $1000 x .1 or 10% = $100 if this is for a month then to calculate the daily interest if a 365 day year

    $100 x 12 / 365 = $3.287 a day
    or
    .10 x 12 / 365 = Daily interest rate .003287


    Now if desired result your looking for is how to use excel formulas or Analysis ToolPack to calculate this then check out this URL which has more URLs listed as well. http://www.mrexcel.com/forum/excel-q...-interest.html
    Thank those who have helped you by clicking the Star * below their name and please mark your post [SOLVED] if it has been answered satisfactorily.

  4. #4
    Registered User
    Join Date
    08-25-2014
    Location
    pk
    MS-Off Ver
    2007
    Posts
    0

    Re: Calculate the daily interest rate on an overdue invoice

    Dear sir, I have Rs, 5000/= in column D5, from this amount I daily pay Rs.100/= to any one its column E5, On column F5 I want to see my pending amount but with auto deduction formula.
    Can anybody help me in this connection pl.

  5. #5
    Registered User
    Join Date
    08-25-2014
    Location
    pk
    MS-Off Ver
    2007
    Posts
    0

    Re: Calculate the daily substractiont

    Dear sir, I have Rs, 5000/= in column D5, from this amount I daily pay Rs.100/= to any one its column E5, On column F5 I want to see my pending amount but with auto deduction formula.
    Can anybody help me in this connection pl.

+ Reply to Thread

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Similar Threads

  1. Replies: 1
    Last Post: 02-28-2014, 02:31 AM
  2. Replies: 0
    Last Post: 07-25-2012, 07:08 AM
  3. Replies: 1
    Last Post: 02-12-2012, 12:45 AM
  4. Calculate Annuity Interest Rate
    By clopay1 in forum Excel - New Users/Basics
    Replies: 6
    Last Post: 04-15-2011, 01:28 PM
  5. Calculate daily interest rate
    By Beechams in forum Excel General
    Replies: 2
    Last Post: 11-09-2008, 06:58 AM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts

Search Engine Friendly URLs by vBSEO 3.6.0 RC 1