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Old 2014-02-20, 16:33   #3
swl551's Avatar
Aug 2012
New Hampshire

80810 Posts

Originally Posted by Mini-Geek View Post
Attached is an Excel spreadsheet that comes up with the same final number you have. The main formulas are:
Fee = last Total
INTEREST = Fee * Percent
Total = Fee + INTEREST

If you want to calculate the interest for n months at a time (compounded monthly), calculate (1+Percent)^n, e.g. 1.015^12=1.1956..., and 200*1.1956... = 239.12 (the total at 16 Apr 2011)

If there's some other mathematical formula you're looking for, I'm not sure what it is exactly.
Thanks. I am working on the formula now in my SQL code. I'll let you know the results...
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