can you attach your excel spreadsheet
yes, assume I reply to the email (i.e. reply to Just answer) with spreadsheet attached?
use the paperclip
it says for images, but you can attach excel files too
i have it
Not essential, but best if you can let me know when you've replied via text message to XXX-XXX-XXXX
it blocks out the numbers
so I can't see the text number
What do you suggest? Or, try the rate function:
whops ... =Rate(8.2521 years,0 pmt, 10,000 PV, -15,000 FV)
whops again ... then try =Rate(0.1233 years [45 days],0 pmt,10000 PV,-15000 FV) ... the problem seems to occur when nper is a percentage of 1 year.
when I put 1/4 in, or double the days, I get the answer your HP calc gets
I was looking for some equations and working it out by hand to see if I could figure out a missing assumption
I found the equation
r = ( FV / PV )1/n - 1
and when I solve that equation I get excel's answer
the smaller the percentage of a year, the worse the discrepancy gets ... 30 days/.0822% returns a rate of over 13,000%
let me clear that up a little (1/n is an exponent)
did you solve for FV using the HP to check the other direction?
because when I solve for FV (FV=PV*(1+rate)^n)) I get $15000 using 2580.11%
where n = 0.1233
I think excel is correct and the HP is wrong, based on working the problem out by hand and arriving at Excel's answer and then checking FV using the computed rate
I get different fv .... n=.1233 int = 2580.11 => fv=41812.76
and solving for fv using rate=405.52 returns the fv of 15000
here's my work showing every step
sorry, i'm 50 years out of algebra, and forget how to calculate exponentials e.g. (1.5) to 8.1103. your calculated rate is 2508 - excell's is 2580 => typo?
let me check that again
yes that was a typo on my part
that's why I show my work
what I don't understand is why HP would say something different
can't understand it either - i get the same hp results from an hp app on my phone. this is really a problem because i have 10 excel worksheets w/ 45,000+ rows - 20% of which incorporate these calculations and need, of course, to be accurate. any ideas on how to make certain it's hp and not excel?
I'm think for a minute on that
i have a way I think
it's fractions that are off
so move to whole numbers by adjusting the base to days instead of years
I fixed the first page and show my work on the second page
in excel just use the days
all of those columns should then check with the hp
then convert the interest rate to in terms of years
that column should check with the excel answer that you get using fractions less than one
as said, algebra is really bad. if i use 45 days in excel (instead of % of a year), the RATE is .91% ... then how to convert .91 to rate equal to 405.52% ?? Sorry ...
I attached the excel file
look at column h
G10 had 0.91%
didn't get the attachment. maybe email it to me? XXX@XXXXXX.XXX
i can't send directly to email, and it blocks the address
I reattached it
got it ... have to apologize again, but still don't see how to get from .91% to 405.52.
you don't get 405, because that's wrong
you get the excel answer
you'll get 2580
.91 needs to compound 365 times to go from daily to annual
but if you take .91 times itself the number gets smaller
so you add 100%, like tax rates
then compound it
then subtract 1 back out
Great, thanks again.