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Monthly Interest Calculation
Comments
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Ah ha, yes you are all right, my root calculation takes into account compounding which it shouldn't since yearly interest is only paid, well, yearly, and just calculated daily on the amount in there each day.
thanks guys, knew you would put me right!0 -
What a nice geeky thread!In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0
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Ta for ALL replies I`ve opened up a can of worms here. Not sure my prog. skills up to calculating monthly payment based on accrued daily interest. I may just guesstimate. Special ta to Aegis who quickly grasped wot I was on about.0
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