Calculate bank interest

  • Thread starter Thread starter AFB
  • Start date Start date
A

AFB

Hello,

I have a simple question, I think. I would like to
calculate the interest that a bank gives me on a deposit.
Each month they give me the correspondent interest.

I would like to know what function to use, for example
starting at 1st January with $1000 and having daily cash
flows (negatives and positives, since I would make
withdraws and deposit every day), with an interest rate of
2% (annual rate). If I didn't had cash flows i would use
the FV (future value) function, but since I have cash
flows positive and negative I don't know wich function to
use, so that I could know the interests (positive or
negative) at the 31st January.

Thank You for any help.

AFB
 
AFB,

Look at the function IRR (internal rate of return) if your cash flows are
every day. If not every day, look at XIRR.
 
-----Original Message-----
AFB,

Look at the function IRR (internal rate of return) if your cash flows are
every day. If not every day, look at XIRR.

--
Earl Kiosterud
mvpearl omitthisword at verizon period net
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