Nov 20 2020 11:49 AM
Hello guys,
I found a spreadsheet that calculate savings interest by year but I want to change to monthly, if you guys can help me with that.
Thank you very much.
Nov 21 2020 01:47 AM - edited Nov 21 2020 01:49 AM
Quarterly: i/4
Monthly: i/12
Fortnightly: i/26
Weekly: i/52
Daily: i/365
**Where i is rate of interest.
For example convert Annual 4% to monthly should =4%/12
.
Quarterly: (1 + i)^(1/4) - 1
Monthly: (1 + i)^(1/12) - 1
Weekly: (1 + i)^(1/52) - 1
Daily: (1 + i)^(1/365) - 1
**Where i is rate of interest.
For example convert Annual 4% to monthly should =(1 + 0.4)^(1/12) - 1.
Check the cell L6 & N6 on the Savings sheet.