# Daily Compound Interest On Given Amount

1. ## Daily Compound Interest On Given Amount

Hi Guys,

I am new to excel use and certainly not all that great with formulas...

After searching through all excels finacial tools, I came up empty.
What I am looking for is a formula to calculate the future value of an investment for a period of time, with daily compound interest of say 1% daily.

I am sure it is an easy thing to figure but the few tried like FV need a constant payment and I am only looking for an initial starting value with a future value after the time has expired with interest calculated...

If someone can help, it would be appreciated...

Thanks!
John  Register To Reply

2. Thanks Guys, I think I figured it out though...

If this looks wrong, please feel free to correct...

I have one section which gives the compounded amount after the period of time...
=E11*(1+F11)^G11
E11 being the principal
F11 being the daily rate
G11 being the time in days

Then, an area on the same sheet that shows the day by day calculation
=IF(\$A3<=\$G\$11,IPMT(\$C\$2,1,240,-B2)+B2,"")
A3 being the day (numbered)
C2 being the rate from F11
B2 being the the relative previous day!

Does all this sound right?

Thanks Guys!
John  Register To Reply