How to compound interest daily

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Guest

I need a copy and paste formulia that will compound interest daily for 365
days a year showing daily totals.
 
Hi,

I may be completely misunderstanding here but isn't it simply:-

Capital*daily interest rate+Capital

So would 4 columns suffice
Daily Todays
Date Capital interest Rate
01/01/2007 1000.00 =B3-B2 0.01
02/01/2007 =B2*D2+B2 =B4-B3 0.01

Drag down the formulas in columns B & C
Changes in the daily interst rate cna be shown in column D

Mike
 
Is this the correct way to input the information?

A B C D E
Daily Todays Daily
1 D/M/Y Capital interest Rate Total
2 01/01/2007 1000.00 =B3-B2 0.01 ?
3 02/01/2007 =B2*D2+B2 =B4-B3 0.01

when I stop the function it gives me a negitive # in B3.
And in the Daily interest I receive weird #s when copied
and pasted to the next line. (B,C,D )line 3 to lines 4,5,6,7
 
Hi,

The column layout I used is
Col A Col B Col C Col D
Date Capital interest Rate Row 1
01/01/2007 1000.00 =B3-B2 0.01 Row 2
02/01/2007 =B2*D2+B2 =B4-B3 0.01 Row 3

The bottom column in C will show a negative value because it's looking for
tomorrows capital to work out todays interest accrued and tomorrows capital
doesn't exist until tomorrow.

Mike
 
Is this the correct way to input the information?
A B C D E
Daily Todays Daily
1 D/M/Y Capital interest Rate Total
2 01/01/2007 1000.00 =B3-B2 0.01 ?
3 02/01/2007 =B2*D2+B2 =B4-B3 0.01
when I stop the function it gives me a negitive # in B3.
And in the Daily interest I receive weird #s when copied
and pasted to the next line. (B,C,D )line 3 to lines 4,5,6,7
Click to expand...

If D2 is the daily rate, then the daily interest in C2 is simply based
on the same-day beginning balance in B2. That is, C2 should be:

=B2*D2

The daily total in E2 would be:

=B2+C2

And the next-day beginning balance in B3 is simply =E2.

Alternatively (and better): eliminate either column B or E, and
simply have a column for the ending balance (E). Add a column (B) for
the day's deposits.

By the way, the daily rate is the annual interest rate divided by
365. (Note: Some banks will divide by 366 in leap years.)

In summary:

A1: D/M/Y
B1: Deposit
C1: Daily Interest
D1: Daily Rate
E1: Ending Balance

A2: 01/01/2007
B2: 1000
C2: =B2*D2
D2: =3.65%/365
E2: =B2+C2

A3: =A2+1
B3: blank
C3: =(E2+B3)*D3
D3: =365%/365
E3: =E2+B3+C3

Copy A3:D3 down. Note that 3.65% is an example annual interest rate.

A note on rounding. It is unclear when banks round the interest and
the balance: daily; or when it is posted to the account, which is
typically monthly. So the above is merely an estimate.
 
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