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Daily Compound Interest On Given Amount

  1. #1
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    12-11-2006
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    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

  2. #2
    Registered User
    Join Date
    12-11-2006
    Posts
    18
    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

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