Excel Finance Trick 9: Daily Interest But Monthly Deposits?!

When your savings plans pays interest 365 days in a year and you make monthly deposits, use the NOMINAL and EFFECT functions first before using the FV function to calculate what the savings plan will be worth at maturity. How do you calculate Future Value when you make monthly deposits but daily interest is paid? Use the NOMINAL and EFFECT functions first before using the FV function! Nominal Rate APR Rate Annual Percentage Rate Effective Annual Rate. In ThisSeries

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