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Excel calc for working our interest on a regular saver account.

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  • oldwiring
    oldwiring Posts: 2,452 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    rb10 wrote: »
    No. All the interest is paid at the end of the year. This is why the calculation of [monthly payment]*[interest rate]*6.5 works, where the monthly payment is the same each month.

    Average balance :(2n+1)/2, where n= no of instalments, eh?:D
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