> On Sep 13, 2021, at 7:46 AM, Steve Hill <st...@nexusuk.org> wrote:
>
>
> Despite much Googling I haven't been able to find anything explaining how to
> calculate this...
>
> I know:
> - The balance of a savings account at the start of the year;
> - The amounts and dates of payments into the account; and
> - The amount of interest paid at the end of the year.
>
> I want to calculate the percent of interest received, assuming that the
> account compounds daily.
>
> If there were no payments into the account it would be easy
> (interest_amount/start_balance=interest_percent), but I can't figure out how
> to take account of irregular payments into the account throughout the year.
You're looking for internal rate of return. Most spreadsheets have an XIRR
function that takes an array of dates and cash flows along with a starting
guess and calculates the actual daily rate. The documentation for LibreOffice's
version is at
https://wiki.documentfoundation.org/Documentation/Calc_Functions/XIRR
<https://wiki.documentfoundation.org/Documentation/Calc_Functions/XIRR>
Regards,
John Ralls
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