help with some calculations

[nikita]

Hello everyone,

I think I've gone mad because I can't work out how much I get from $10000,00 USD investment fro one moth with 4.66% interest... help would be kindly appreciated... soryy for the stupid post...

[MK Printing]

$46,600

According to my calculations (1000000 x 1.0466) minus the investment

Matt

[stevegibson]

Is this 4.66% p.a., paid monthly?

If so, I reckon the equation would be

[capital * (1+annual interest)^(1/12)] - capital

or, in this case

[10,000 * (1.0466)^(1/12)] - 10,000 = 38.03

Or, it might be something different!

Steve

[nick.martin]

Is it $10,000 or $1,000,000 ???

[Martin]

Originally posted by stevegibson
Is this 4.66% p.a., paid monthly?

If so, I reckon the equation would be

[capital * (1+annual interest)^(1/12)] - capital

or, in this case

[10,000 * (1.0466)^(1/12)] - 10,000 = 38.03

Or, it might be something different!

Steve

ditto... I think Steve is about right. Altho my quick calculation came out at 38.83

[MK Printing]

I think this is a question for James Smith (i think that is his name).

Matt

[nikita]

Hi guys,

Thank you to you all. Steve was a spot on!

[stevegibson]

"Steve was a spot on!"

I think I need to share most of that credit with MS Excel!

Steve