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Calculate Compound Interest on defaulted loan

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drffc Calculate Compound Interest... 06-24-2013, 10:59 PM
benjuk Re: Calculate Interest on... 06-25-2013, 02:38 AM
dilipandey Re: Calculate Interest on... 06-25-2013, 03:23 AM
drffc Re: Calculate Compound... 06-27-2013, 01:14 PM
Guest Re: Calculate Compound... 07-20-2013, 12:11 PM
  1. #1
    Registered User
    Join Date
    06-24-2013
    Location
    NY, USA
    MS-Off Ver
    MAC Excel 2008
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    6

    Calculate Compound Interest on defaulted loan

    I am doing a collection on an old loan.

    There were never any payments.

    Initial loan amount: $7,559.95.

    Annual interest: 9%, compounded annually.

    Loan date: 03/24/1994.

    I just need to calculate the value of the accumulated interest (compounded annually) through to today.

    I'm basically an Excel newbie, so I'd appreciate simple solutions and terms.

    Many thanks!
    Last edited by drffc; 06-25-2013 at 02:10 PM.

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