maginoodle
Active Member
- Joined
- Apr 14, 2006
- Messages
- 827
- Reaction score
- 70
- Points
- 28
- Members Ride
- vy series2 ss crewman
Hi all, i am hopeing someone knows how to work out compound interest. I can find out how to work it out on a yearly basis, but i need to know how to work it out on a monthly basis.
I need to know this for tax time. What i need to do is say i have $100,000 borrowed and that i am paying 9% coumpounded daily. How much will that be for 30 days? I need a formula or online calculator as the principal amount varies from month to month as i pay it off and also the days in the month vary.
I have been searching on and off for a while now and i can only find calculators that do it on a yearly basis.
Any help appreciated.
Cheers Shane
I need to know this for tax time. What i need to do is say i have $100,000 borrowed and that i am paying 9% coumpounded daily. How much will that be for 30 days? I need a formula or online calculator as the principal amount varies from month to month as i pay it off and also the days in the month vary.
I have been searching on and off for a while now and i can only find calculators that do it on a yearly basis.
Any help appreciated.
Cheers Shane