Interest balance on an account...

Say I have a loan of $10,000 at 7.9% AER. Interest is charged daily and
compounded, which I can find out by using =(NOMINAL(7.9%,365)/365) which
gives me 0.02083% for the daily interest rate.

How can I write a formula that will automatically display the account
balance (principal plus interest) on any given day in the past or future, or
the present date of the system?

Marcus


0
Marcus
3/26/2006 1:32:23 PM
excel 39879 articles. 2 followers. Follow

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