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Compound interest is the result of reinvesting interest so that interest in the next period is then earned on the principal sum plus previously accumulated interest.

1
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I put the start date in A2, then A3 is A2 + 1 Starting balance is in D2 and daily interest in E2 as you have it. D3 is then =D2+ROUND(D2*E$2,2)+IF(MONTH(A4)<>MONTH(A3),100,0) That is the …
answered Feb 2 '18 by Rupert Morrish
64
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No. The compounding is a multiplier, and multiplication is distributive over addition. So 1.1 * (x + y) = (1.1 * x) + (1.1 * y). That is assuming that the accounts are large enough that no indi …
answered Jun 18 '18 by Rupert Morrish