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What interest rate is used in this sheet ?

This spreadsheet is locked.
Is there any way to work out what interest rate is used in calculations?

http://www.revenue.ie/en/business/running/instalment-calculator.xls
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Eirman
Asked:
Eirman
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1 Solution
 
chubby_informerCommented:
doesnt seem so.

it looks that alot of cells are being referenced
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redmondbCommented:
Hi, Eirman.

Please see here for the manual for the file.

Caution: I have confirmed that the rates quoted in the manual are part of the interest calculation in the file. However, this does not necessarily mean that the full interest calculation in the file agrees with that in the manual.

Regards,
Brian.
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EirmanAuthor Commented:
Thanks redmondb, I hadn't bothered to read the manual!

When it says 0.0219 %
I presume that they mean 2.19% per annum .. what do you think?
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redmondbCommented:
Eirman,

The quoted rates are daily.

Sorry :(

Regards,
Brian

Edit: Oops - Simple, not compound interest!
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EirmanAuthor Commented:
Many Thanks redmondb
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redmondbCommented:
Thanks, Eirman.
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