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I want the excel compound interest formula

I want the excel compound intrest formula regarding this
TERM
INTEREST RATE P.A.
Rs.10,000/- will become (cumulative option)
1 YEAR
9.60%
Rs. 10,983/-
18 MONTHS
10.00%
Rs. 11,576/-
2 YEARS
10.00%
Rs. 12.155/-

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P=13,00,000
R=10%
N=5MONTHS
COMPOUNTED QUERTLY

Posted on Apr 09, 2009

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=+A3*(1+B3/2)^(C3*2)

this is the formula for comopound interest
heear A3= Amount Deposited
B3=Percentage
C3= No of year

this is for half yearly compound intrest....

Posted on Dec 03, 2008

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=10000*(1+0.96)^12
=10000*(1+0.10)^18
=10000*(1+0.10)^24

Posted on Dec 03, 2008

  • Glove20 Dec 03, 2008

    Apologies, previous forumla was incorrect



    =10000*(1+0.096)^1
    =10000*(1+0.10)^1.5
    =10000*(1+0.10)^2

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I am trying to figure out a formula for calculating "daily compounded interest" which the rate is adjusted quarterly.

I have set up a spreadsheet in excel, but I have to go into each cell and adj the formula..??

Any suggestions..??

Bern

Posted on Dec 24, 2009

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1 Answer

How can I calculate the EMI of a home loan of 90 lacs?


Banks and Non-Banking Financial Companies use the following formula to calculate EMI of a home loan. This is the formula for calculating compound interest. Applying the same formula for a home loan of Rs 90Lakhs, we get,

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

Where,
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R= Rate of interest per month
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Going by the current lending rates followed by the financial institutions, we will consider R to be 9% per annum (to be converted to % per month) and for the loan tenure, we will take 20 years/240 months.

Substituting all values in the above formula, the home loan EMI comes out to be Rs 80,975 per month.

You can easily calculate the EMI for your home loan for any bank or NBFC using a free online Home Loan EMI calculator. You can also find this handy tool on the online portals of most banks and NBFCs. All you have to do is feed in the values in the respective fields and receive the answers.

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An original investment of 10,000 earns 7.50% interest compound continously, What will the investment be worth in 3 years? 30 years?


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A 6.75% APR compounded semiannually gives an effective interest rate of about 6.864%:
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Please see attached image.

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2526d11.jpg Obviously you would have to put in the daily interest rate.

Hope this helps

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