Hi all
I'm struggling to find a quick way to calculate the FV of a deposit where interest is calculated daily but compounded monthly, with the complication that the interest rate can change at any arbitrary day, and the deposit is not necessarily made on the first day of the month. I currently make use of amortization tables but need to streamline the process due to the volumes. I am attaching a simplified example of my problem. Is there a way to do this with formalae in Excel?
- hoping someone can point me in the right direction!
Thanks
Bookmarks