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  1. #1
    jgelpi16 is offline Expert
    Windows XP Access 2007
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    Mar 2010
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    Charlotte, NC
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    Question Calculate Interest

    I have one table that has a balance in it. I have a second table that has the interest amount and date interest is effective. I need a way to calculate today's balance.

    Let's say Balance1 is $100.00 as of 12/31/2007. For the period 12/31/2007 - 12/31/2008 interest was 5%. For period 01/01/2009 - Current interest is 7.25%. How would I calculate that? I don't necessarily need to do this in a query. I could do this in VB if that is easier.

    I am at a total loss on this one. Any and all help will be much appreciated!

  2. #2
    maximus's Avatar
    maximus is offline Expert
    Windows 7 Access 2010 (version 14.0)
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    931
    how are the tables linked canot help you if I don't know that.

  3. #3
    jgelpi16 is offline Expert
    Windows XP Access 2007
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    I "figured it out". A co-worker provided a Interest calculating module and table.

  4. #4
    Julieve is offline Novice
    Windows 8 Access 2013 32bit
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    Quote Originally Posted by jgelpi16 View Post
    I "figured it out". A co-worker provided a Interest calculating module and table.
    Hi there.. I have a similar problem, I have a transaction table of entries of different loans and want to show a running balance and calculate interest based on those entries, less any repayments and ignoring any amounts that have had interest charged on them before.. We will probably need to keep changing the interest rate as well

    So i would imagine as well as my LoanInfo table and Loantran table I also need a table of

    tbl_IntRates
    LoanID
    IntRate
    IntStartDate

    tbl_LoanInt
    LoanID
    DateIntCharged
    IntAmount

    However, first I have to calculate a running balance to calculate the interest based on a formula I guess I put into the report, then how do I get that calculation into my table of LoanInt

Please reply to this thread with any new information or opinions.

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