To Verify the interest amount calculated for a bank deposit!
This query is : Resolved
15 January 2011
Dear Experts,
Pls. tell me which option i have to select in the Excel for verifying whether the bank has correctly calculated compound interest where the deposit period is for 500 days.
In other words pls tell me which function in the finanacial - MS Excel should be used to verify the interest amount calculated by the bank is correct or not.
With regards,
Rajesh.
Pls. tell me which option i have to select in the Excel for verifying whether the bank has correctly calculated compound interest where the deposit period is for 500 days.
In other words pls tell me which function in the finanacial - MS Excel should be used to verify the interest amount calculated by the bank is correct or not.
With regards,
Rajesh.
16 January 2011
There is no single formula for calculation of bank interest in excell.
You have claculate quarterly basis by multiplying the priciple amount with rate of interest.
You have claculate quarterly basis by multiplying the priciple amount with rate of interest.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- GST ITC REVERSE
- Fixe term employment
- Is any professional CA is here please reply
- Regarding Applicability of Tax Audit u/s 44AB
- Putting a heading on received mail
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Consolidated financials
- TDS on TRUST
- Withdrawal in cash from partners capital account by partner
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
