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asset losses -10.78% in 7 days.
How do you solve for the daily compound interest rate to get a loss of -10.78% after 7 days compounding daily?
thanks in advance
asset losses -10.78% in 7 days.
How do you solve for the daily compound interest rate to get a loss of -10.78% after 7 days compounding daily?
thanks in advance
Compound interest formula:
y = x * (1 + R) ^ N
For this specific case:
x = 1
y = 1 - 0.1078
N = 7
R = ???
solve for R
R = POWER(y, 1/N) - 1
Specifically:
R = POWER(1-0.108, 1/7) - 1 = -16.16%
Slipped a decimal, ben: -1.616%= POWER(1-0.108, 1/7) - 1 = -16.16%
Entia non sunt multiplicanda sine necessitate
Hi SHG,Originally Posted by shg
ah.. the power function..
thanks for the formula!
=POWER(0.8922,1/7)-1 to get -1.62%
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