# Thread: Interest Calculator (Excel 2000)

1. ## Interest Calculator (Excel 2000)

I need to get an interest calculator for a department here. They have sent me the attached Word document with what they want. The Interest Rate and Date Interest Runs To will be the same each time they use it - so they only want to complete those columns with the first invoice and then Excel remembers. When they close the calculator they want the data to clear so they can use it again for another client. Each client has a different rate of interest.

Anyway does anyone know of any softwares that we could buy.? Or is this an easy thing to set up in Excel? I dont have any Excel experience at all.

Any help much appreciated

Thanks

2. ## Re: Interest Calculator (Excel 2000)

It is probably not hard to set something up in Excel, but we would need to know how the interest is calculated - on a daily basis, or monthly, or ...?

3. ## Re: Interest Calculator (Excel 2000)

Thanks Hans. I did have a look at the ones on Google but couldnt find anything that you could add more than one figure at a time which is what we need.

The interest would be calculated on a daily basis.

4. ## Re: Interest Calculator (Excel 2000)

Perhaps the attached workbook can serve as a starting point. The worksheet is protected without a password; select Tools | Protection | Unprotect sheet to see the formulas.

I have assumed that the daily interest is 1/365 of the yearly interest, so that the effective interest is slightly higher. If the effective interest needs to be the same as the yearly interest, the formulas would have to be adapted slightly.

5. ## Re: Interest Calculator (Excel 2000)

Hans - this is brilliant. Thanks very much. Can I ask how to make one change - in the last column it is giving me the invoice amount plus the interest. We only want it to show the amount of the interest.

Thanks

6. ## Re: Interest Calculator (Excel 2000)

<img src=/S/blush.gif border=0 alt=blush width=15 height=15> Oops - that's what happens if you make a last-minute change without checking it.

I have attached a modified version.

7. ## Re: Interest Calculator (Excel 2000)

Thanks Hans. Its exactly what they were looking for.

Next time your in Edinburgh give me a shout and I will take you for a wee dram!!!!

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