[h=2][/h]
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
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
