Calculating interest for deposit with inperiodic contribution

[agrigoryan]

Guys, I need help for the following issue. I am trying to find an appropriate formula for calculation of the following deposit with interest capitalization 12% p.a.(360 days)


Principal
19.07.2012 2 200 000 Start date
19.08.2012
14.09.2012 250 000 Contribution 1
19.09.2012
19.10.2012
19.11.2012
13.12.2012 100 000 Contribution 2
19.12.2012
31.12.2012
19.01.2013
31.01.2013 End date

What is the accrued interest for the period? and what formula can be used here?

I have tried to calculate and got 162,007 but I am not sure I am right

Plsssssssssss help!

[MoneyMaker]

Excel does not have a function to help find interest earned on deposits that are on irregular periods

Using tadXNFV function I get a future value of $2,700,600 thus making the interest amount to be $159,447

But this function assumes Actual/365 convention

Not that I can change the code instantly but I amended it to so that Actual/360 convention is accepted by tadXNFV function and the results are bit higher as expected when compared to Actual/365

I get a future value of $2,702,755 thus making the interest amount to be $161,723

tadXNFV is an Excel XNFV function that finds the future value of an annuity that have deposits on irregular time periods. It is part of TADXL add-in that has a large number of functions. As of now, this function works with Actual/365 basis. A new version of TADXL is under development and the Actual/360 convention will be added to its X- family of functions

If you would like to try out the financial functions in TADXL then follow the two links at bottom

• 32_bit_tadxl_v_1.0_en_trial.zip
• 64_bit_tadxl_v_1.0_en_trial.zip

[kvsrinivasamurthy]

pl see the attached file with formula.