Interest formula
Hello,
I am trying to calculate interest on a sheet but my formula is still on a very beginner level. Can someone please replace the first () where I basically just added up numbers with a formula to pick the numbers up from above?
Formulas are in column E
Thank you!
This should do it for you.
For the 1st calc (E3)...
=SUM($C$3:C3)*$E$1*31/365
for the others, try this, copied down...
=SUM($C$3:C4,$F$3:F3)*$E$1*30/365
I notice that you use 31 (days?) for Jan, but then 30 (days?) for all subsequent months?
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Regards
Ford
Thank you!
That is a mistake .. is it possible to let excel decide how many days it is as I have the month in Column A?
Sure, swap 30 (etc) with DAY(A3)...
For the 1st calc (E3)...
=SUM($C$3:C3)*$E$1*DAY(A3)/365
for the others, try this, copied down...
=SUM($C$3:C4,$F$3:F3)*$E$1*DAY(A4)/365
DAY(A3)
Great, thanks a lot FDibbins. Works well!
Last edited by Sherp; 10-01-2014 at 04:31 PM.
Happy to help, and thanks for the feedback
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