Hi all,
Please find attached an Excel file. It contains a macro named "INSERTPICT". It's, of course, not a big task to insert a picture in an Excel file. However, if you have an image of size, say 2 MB, when you try to insert that picture into your Excel file, what happens?
Please perform the same task using this macro and find out the difference. This Excel tool has its own limitations, which are described in the file itself.
Your suggestions and feedback are welcome.
Thanks and regards,
Raja C S N
rajacsn@gmail.com
From India, Madras
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39Please find attached an Excel file. It contains a macro named "INSERTPICT". It's, of course, not a big task to insert a picture in an Excel file. However, if you have an image of size, say 2 MB, when you try to insert that picture into your Excel file, what happens?
Please perform the same task using this macro and find out the difference. This Excel tool has its own limitations, which are described in the file itself.
Your suggestions and feedback are welcome.
Thanks and regards,
Raja C S N
rajacsn@gmail.com
From India, Madras
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Quite a Useful File..
I just read one of your earlier solutions on Term Deposit Interest calculation and found it very useful: https://www.citehr.com/180115-excel-software.html
I am sorry I am mentioning the other thread as that one's closed long back as it's too old. Though the formula is correct, there is more to calculating Maturity Value on Fixed Deposit, and our good old school formulas don't hold good. Would appreciate it if you could share some inputs in case you have them.
Leap Years are 366 days, and the Interest Rate is per annum, so is it for 365 or 366 days? Then, Banks post interest on a calendar month compounding, i.e., on every 31-Mar, 30-Jun, 30-Sep, and 31-Dec, and then the compounding begins. Though all banks provide Quarterly compounding, not all Quarters are of the same number of days even in Non-Leap Years. So, using the comp frequency = 4 is appropriate or not?
Thanks in advance
From India, Pune
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I just read one of your earlier solutions on Term Deposit Interest calculation and found it very useful: https://www.citehr.com/180115-excel-software.html
I am sorry I am mentioning the other thread as that one's closed long back as it's too old. Though the formula is correct, there is more to calculating Maturity Value on Fixed Deposit, and our good old school formulas don't hold good. Would appreciate it if you could share some inputs in case you have them.
Leap Years are 366 days, and the Interest Rate is per annum, so is it for 365 or 366 days? Then, Banks post interest on a calendar month compounding, i.e., on every 31-Mar, 30-Jun, 30-Sep, and 31-Dec, and then the compounding begins. Though all banks provide Quarterly compounding, not all Quarters are of the same number of days even in Non-Leap Years. So, using the comp frequency = 4 is appropriate or not?
Thanks in advance
From India, Pune
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Hi Vaibhav,
Thanks for raising a query. You may be right - it is a school day formula. But to my surprise, it still works well. I have checked with two banks on their Maturity value for a 5-year period (which will certainly involve one leap year). The Maturity value shown by the bankers is just as shown in the Excel. Most of the banks provide interest for the period of deposit calculating from day one. Only a few banks make adjustments towards month end/quarter end and then make interest calculations for the next whole financial year. Even in such cases, the total maturity value of the term deposit calculated by the EXCEL FORMULA seems to hold good. If you have any sample case in which this formula fails, please share the same with me. Let me try to rework on other methods.
Thanks & regards,
Raja C S N
From India, Madras
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Thanks for raising a query. You may be right - it is a school day formula. But to my surprise, it still works well. I have checked with two banks on their Maturity value for a 5-year period (which will certainly involve one leap year). The Maturity value shown by the bankers is just as shown in the Excel. Most of the banks provide interest for the period of deposit calculating from day one. Only a few banks make adjustments towards month end/quarter end and then make interest calculations for the next whole financial year. Even in such cases, the total maturity value of the term deposit calculated by the EXCEL FORMULA seems to hold good. If you have any sample case in which this formula fails, please share the same with me. Let me try to rework on other methods.
Thanks & regards,
Raja C S N
From India, Madras
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Rajan,
I am really glad to have found someone with the same zeal to learn something new.
However, more than the Excel skills, I am actually concerned about which formula one should employ. After going through the PDF, you will find it quite ambiguous.
I was hitting the wall on two things. Let's say if we are in the compounding iteration, then how would we keep the denominator of "4" or 91.25 -> 365 days or 91.5 -> 366 days.
My logic is that the first interest would be from the starting date till the first end date of the quarter it falls into, let's call it the Split Date.
From the above example: 34-May-2012 till 30-Jun-2012, simple interest would be calculated. Then, on this newly arrived principal + interest, the compound formula needs to be employed from the Split date till the End Date. But how do we separate the 366 or 365 days denominator effect as given in the PDF.
Normally, I used to use the actual month ending using 4. But if we have to split the actual number of days in a year, it will be the total number of days in a year divided by 4, which would be 366/4 = 91.5 and 365/4 = 91.25.
So, is the interest rate per annum for 366 and 365 days? And if it's for more than a year where both leap and non-leap years are occurring, then what's the denominator?
Scientifically, every year is to be considered as 365.25 days, i.e., a complete 365 days and 1/4th day for the Earth to complete one revolution. However, for all practical purposes, we make it 365, and then the fourth year is 366 as 1/4th days are accumulated to form the extra day.
So, all the best.
Thanks
From India, Pune
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I am really glad to have found someone with the same zeal to learn something new.
However, more than the Excel skills, I am actually concerned about which formula one should employ. After going through the PDF, you will find it quite ambiguous.
I was hitting the wall on two things. Let's say if we are in the compounding iteration, then how would we keep the denominator of "4" or 91.25 -> 365 days or 91.5 -> 366 days.
My logic is that the first interest would be from the starting date till the first end date of the quarter it falls into, let's call it the Split Date.
From the above example: 34-May-2012 till 30-Jun-2012, simple interest would be calculated. Then, on this newly arrived principal + interest, the compound formula needs to be employed from the Split date till the End Date. But how do we separate the 366 or 365 days denominator effect as given in the PDF.
Normally, I used to use the actual month ending using 4. But if we have to split the actual number of days in a year, it will be the total number of days in a year divided by 4, which would be 366/4 = 91.5 and 365/4 = 91.25.
So, is the interest rate per annum for 366 and 365 days? And if it's for more than a year where both leap and non-leap years are occurring, then what's the denominator?
Scientifically, every year is to be considered as 365.25 days, i.e., a complete 365 days and 1/4th day for the Earth to complete one revolution. However, for all practical purposes, we make it 365, and then the fourth year is 366 as 1/4th days are accumulated to form the extra day.
So, all the best.
Thanks
From India, Pune
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I am providing an Excel sheet with a lot of examples where the actual maturity amount is given. These are the maturity amounts I asked from friends who work in different banks. So the reliability of maturity amounts is unquestionable. Waiting for a response.
From India, Pune
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From India, Pune
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Also, please note some things which can cause changes in the actual answers:
Tip: I have also read somewhere that the Comp Freq is Quarterly only if the Tenure of the Deposit is more than 6 months, and for less than that, it will be Yearly as good as Simple Interest. As per the latest RBI directive, all FDs maturing on a Bank Holiday or a Sunday would accrue interest till the next working day.
So maybe that also can change the Maturity Amount in certain scenarios as though the Maturity Date would be Sunday, the Actual Interest calculated would be till the next working day, and hence would be more than actually deemed.
From India, Pune
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Tip: I have also read somewhere that the Comp Freq is Quarterly only if the Tenure of the Deposit is more than 6 months, and for less than that, it will be Yearly as good as Simple Interest. As per the latest RBI directive, all FDs maturing on a Bank Holiday or a Sunday would accrue interest till the next working day.
So maybe that also can change the Maturity Amount in certain scenarios as though the Maturity Date would be Sunday, the Actual Interest calculated would be till the next working day, and hence would be more than actually deemed.
From India, Pune
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