Hi Group, I am writing a simple formula for a compounding interest. Let me quickly take you through the example.
Monthly Investment - Rs.2000 Yearly Interest - 10% (compounded twice a year) i.e., 5% every 6th month Tenor - 1 year Month Investment Interest Cls Bal (Col A) (ColB) (Col C) (Col D) 1 2000 5% 2000 (no interest calc) 2 4000 5% 4000 (no interest calc) 3 6000 5% 6000 (no interest calc) 4 8000 5% 8000 (no interest calc) 5 10000 5% 10000 (no interest calc) 6 12000 5% 12600 (interest calculated @ 5%) My Question: I'm putting a formula assuming that they are in Columns A to D. I'm putting a formula in column D (Cls bal) as =IF(A2=OR(6,12,18,24,30,36,42,48,54,60,66,72,78,84,90,96,102,108,114,120), (B2*C2)+B2,B2) for some strange reason, this formula while using "OR" worksheet function is not working. Also, can anyone suggest if there is a shorter way of finding a substitute for "OR"? I want the interest to be calculated when the tenure is a multiple of 6 (since half yearly compounding). Your time and thoughts would be highly appreciated. Sastry -- ---------------------------------------------------------------------------------- Some important links for excel users: 1. Follow us on TWITTER for tips tricks and links : http://twitter.com/exceldailytip 2. Join our Facebook Group @ http://www.facebook.com/group.php?gid=287779555678 3. Excel tutorials at http://www.excel-macros.blogspot.com 4. Learn VBA Macros at http://www.quickvba.blogspot.com 5. Excel Tips and Tricks at http://exceldailytip.blogspot.com To post to this group, send email to excel-macros@googlegroups.com <><><><><><><><><><><><><><><><><><><><><><> HELP US GROW !! We reach over 6,800 subscribers worldwide and receive many nice notes about the learning and support from the group.Let friends and co-workers know they can subscribe to group at http://groups.google.com/group/excel-macros/subscribe
