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Interest calculation between two dates compounded annually


New Member
Dear All,
I want to write a formula in excel to calculate interest for the following dates:
a) 31/03/2015
b) 30/06/2015
c) 31/02/2016


Loan amount: $1,000.00
Loan date: 7 April 2014
Interest Rate: 11.8% per annum
Compounding : every year on 7 April

Please can you help me with the calculation.



Excel Ninja
This link to calculate annual compound interest

Just for reference, Intra year compound interest calculation

From your description, Compound interest is only applied on Apr 7th of each year?
Then calculation would be
= 1000*(1+0.118)^ROUNDDOWN(("Calc Date"-"Loan Date")/365,0)
After 1460 years or so, it will not be accurate as Leap Date in Feb, will exceed 365.

c) would give #Value error as Feb 31, 2016 does not exist.