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May 13th, 2015, 11:11 AM  #1 
Newbie Joined: May 2015 From: US Posts: 1 Thanks: 0  Weekly interest compounded Monthly
I have gone blank, please help: A loan attracts interest at 1.25% per week, compounded monthly. What is the effective interest rate per annum taking into account the compounding effect? Whats the Excel Function that does this? Thanks!! 
May 13th, 2015, 09:22 PM  #2  
Math Team Joined: Oct 2011 From: Ottawa Ontario, Canada Posts: 13,445 Thanks: 946  Quote:
1.25% per week means 52 * 1.25 = 65% : improbable. Please provide an example showing when payments are made, and when interest is added to the principal.  

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