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    Calculate Daily Interest

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    Umamaheswara Reddy
    The document provides examples of calculating simple interest, compound interest, and using the FV and IPMT financial functions. It shows calculating interest earned on various principal amounts with different interest rates and time periods, as well as the final balances. It includes examples and prompts the reader to practice the calculations themselves.

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    Calculate Daily Interest

    Uploaded by

    Umamaheswara Reddy
    8 views8 pages
    The document provides examples of calculating simple interest, compound interest, and using the FV and IPMT financial functions. It shows calculating interest earned on various principal amounts with different interest rates and time periods, as well as the final balances. It includes examples and prompts the reader to practice the calculations themselves.

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    The document provides examples of calculating simple interest, compound interest, and using the FV and IPMT financial functions. It shows calculating interest earned on various principal amounts with different interest rates and time periods, as well as the final balances. It includes examples and prompts the reader to practice the calculations themselves.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    8 views8 pages

    Calculate Daily Interest

    Uploaded by

    Umamaheswara Reddy
    The document provides examples of calculating simple interest, compound interest, and using the FV and IPMT financial functions. It shows calculating interest earned on various principal amounts with different interest rates and time periods, as well as the final balances. It includes examples and prompts the reader to practice the calculations themselves.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    of 8

    Calculate Simple Interest

    Principle Amount (P) $400,000


    Rate of Interest (R) 18%
    Time (n) (Days) 23

    Final Balance $2,056,000


    Interest Earned $1,656,000
    Practice Yourself

    Principle Amount (P) $1,000,000


    Rate of Interest (R) 18%
    Time (n) (Days) 23

    Final Balance
    Interest Earned
    Calculate Compound Interest

    Principle Amount (P) $5,000


    Rate of Interest (R) 7%
    Time (n) (Years) 5
    Number of Compounding Periods Per Year 365

    Final Balance $7,095


    Interest Earned $2,095
    Practice Yourself

    Principle Amount (P) $5,000


    Rate of Interest (R) 7%
    Time (n) (Years) 5
    Number of Compounding Periods Per Year 365

    Final Balance
    Interest Earned
    Use of FV Function

    Principle Amount (P) $5,000


    Rate of Interest (R) 7%
    Time (n) (Years) 5
    Number of Compounding Periods Per Year 365

    Final Balance $7,095


    Interest Earned $2,095
    Practice Yourself

    Principle Amount (P) $5,000


    Rate of Interest (R) 7%
    Time (n) (Years) 5
    Number of Compounding Periods Per Year 365

    Final Balance
    Interest Earned
    Use of IPMT Function

    Principle Amount (P) $5,000


    Rate of Interest (R) 0.5%
    Number of Compounding Periods Per Year 365

    Daily Interest Earned for the First Month $0.0685


    Practice Yourself

    Principle Amount (P) $5,000


    Rate of Interest (R) 0.5%
    Number of Compounding Periods Per Year 365

    Daily Interest Earned for the First Month

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