I want the excel compound intrest formula regarding this
TERM
INTEREST RATE P.A.
Rs.10,000/- will become (cumulative option)
1 YEAR
9.60%
Rs. 10,983/-
18 MONTHS
10.00%
Rs. 11,576/-
2 YEARS
10.00%
Rs. 12.155/-
P=13,00,000
R=10%
N=5MONTHS
COMPOUNTED QUERTLY
=+A3*(1+B3/2)^(C3*2)
this is the formula for comopound interest
heear A3= Amount Deposited
B3=Percentage
C3= No of year
this is for half yearly compound intrest....
I am trying to figure out a formula for calculating "daily compounded interest" which the rate is adjusted quarterly.
I have set up a spreadsheet in excel, but I have to go into each cell and adj the formula..??
Any suggestions..??
Bern
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