6 Month Automatic Interest Rate Increase Formula

[jerojora]

Hello,

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.

=A1*(1+DATEDIF(A2,TODAY(),"y")*0.04)

Thank You For Your Time

[Ken Puls]

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