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Thread: 6 Month Automatic Interest Rate Increase Formula

  1. #1

    6 Month Automatic Interest Rate Increase Formula

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    What would be the formula to automatically increase the interest rate every 6 months by lets say 4%? Simple not compound interest.

    So basically every 6 months I need the interest rate to automatically increase the payment by 4% but only on each 6 month anniversary date (4%, 8%, 12% 16%)...

    I have used this formula below with success for automatic monthly ("m") and yearly ("y") interest rate and payment increases. The formula below is for yearly 4% increases, but I can't figure out how to change it to 6 month intervals.


    Thank You For Your Time

  2. #2
    Administrator Ken Puls's Avatar
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    Mar 2011
    Nanaimo, BC, Canada
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    DATEDIF doesn't work for anything other than D, M, or Y.

    How precise do you need it to be? If it's "not extremely", you could use =A1*(1+ROUNDDOWN((TODAY()-A2)/182.5,0))*0.04
    Ken Puls, FCPA, FCMA, MS MVP

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