M
Michael S. Montoya
I have a client that wants to calulate 10% interest on open balances. His
clients will be making monthly payments (not always for the same amount and
not always on the same date). I believe the interest is to be compounded
daily. So far, I have only been able to find formulas for annuities with
fixed monthly payments, but nothing for what I have explained above (I don't
think the IRR function will work either by reading the description of it).
Does anyone have an idea on this one?
clients will be making monthly payments (not always for the same amount and
not always on the same date). I believe the interest is to be compounded
daily. So far, I have only been able to find formulas for annuities with
fixed monthly payments, but nothing for what I have explained above (I don't
think the IRR function will work either by reading the description of it).
Does anyone have an idea on this one?