Interest Income Compounde daily

You can make your own with the following formula to obtain the end of
period value:

=Beginning Principal*(1+i/365)^(365*Years)

Where i is the annual rate that you will earn compounded daily.
Years is number of years you will leave it on deposit.

Pieter Vandenberg

Chasmcf <Chasmcf@discussions.microsoft.com> wrote:
: Is there a template to compute interest income on a daily basis

"vandenberg p" wrote:
> Chasmcf <Chasmcf@discussions.microsoft.com> wrote:
> > Is there a template to compute interest income on a
> > daily basis
> [....]
> =Beginning Principal*(1+i/365)^(365*Years)

Alternatively:

=FV(i/365, 365*years,, -principal)

Caveat: That is not entirely right because it does not take
leap years into account. Instead of "365*years", it would
be better to compute the number of days between two dates,
e.g. DATE(2010,12,31) - DATE(2005,12,31).