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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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## Related Questions:

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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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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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It becomes part of the new principal. The new principal is equal to the old principal + interest for the period.

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Apr 05, 2014 | Texas Instruments TI 30XIIS Scientific...

### I cannot get the textbook answer (online calculators are also the same as textbook answer) using my sharp calculator EL738: Monthly payment for \$184,500 at 6.75% interest semi annually, for 5 year term...

Your result is for the 6.75% interest compounded monthly. The problem states that the interest is compounded semiannually. This makes a difference in the effective interest rate.

A 6.75% APR compounded semiannually gives an effective interest rate of about 6.864%:
Press 2 , 6 . 7 5 2nd >EFF

Converting this to APR gives about 6.657%:
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If you use 6.657 for the interest rate instead of 6.75 you should get the correct result.

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### TI 83

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Please see attached image.

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Hope this helps

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