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11/30/2004 at 07:49AM PST, ID: 21224795
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7.5

Excel Formula to calculate interest based on dates

Asked by hbtitansfan in Microsoft Excel Spreadsheet Software

Tags: formula, excel, calculate, interest

I need an Excel formula that calculates interest on several different loan amounts on a daily basis ongoing.  For example, one loan is in the amount of $12,400 and occurred 4/30/03.  It is to be paid back at 35% interest rate.  Another loan is for $100,000 occurring on 9/1/0/03 to be paid back at an interest rate of 12%.  I need to know on any given day based on when the loan originated (date is a factor) how much is due.  There are about 12 different loan amounts.  I also have to show the balance when a protion of each loan is paid back.  I hope I've explained this correctly.  

Thank you,
Lynn
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About this solution

Zone: Microsoft Excel Spreadsheet Software
Tags: formula, excel, calculate, interest
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Solution Provided By: MalicUK
Participating Experts: 4
Solution Grade: A
 
 
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