Could some provide a formula for me to calculate "rate" as in interest rate? I want to enter in starting balance, ending balance and months not years and have a formula calculate simple interest earned. I would also like to be able to enter in both balance numbers as positive.
Thank you in advance for any help,
yeto
Simple Interest formula
=P(1+rt)
where P is money invested
r is interest rate as percentage
t is time periods
With money invested in A1
result in B1
and time period in D1
rate of interest would be
=(B1/A1-1)/D1
Last edited by Special-K; 07-23-2018 at 10:58 AM.
Regards
Special-K
Ensure you describe your problem clearly, I have little time available to solve these problems and do not appreciate numerous changes to them.
Thank you. I appreciate you taking time to help.
yeto
Thank you. I appreciate you taking time to help.Originally Posted by Special-K
yeto
multiply that by 100 to state rate in percents,
and probably multiply that by 12 to state annual rate
=1200*(B1/A1-1)/D1
Thank you. That worked perfectly. I appreciated you taking time to share.
yeto
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