Hi All,
Please find attached an excel file. It contains a macro name "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 do the same task using this MACRO and find out the difference. This excel tool has its own limitation about which description is given in the file itself.
Your suggestions / feedback are welcome.
Thanks & regards,
Raja C S N
From India, Madras
39Please find attached an excel file. It contains a macro name "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 do the same task using this MACRO and find out the difference. This excel tool has its own limitation about which description is given in the file itself.
Your suggestions / feedback are welcome.
Thanks & regards,
Raja C S N
From India, Madras
Quite a Useful File..
I just read one of your earlier solutions of Term Deposit Interest calculation and found it very useful :
https://www.citehr.com/180115-excel-software.html
I am sorry I am mentioning about the other thread as that one's closed long back as its 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 if you could share some inputs incase you have them..
Leap Years are 366 days and the Int Rate is per annum so is it for 365 or 366 days?
THen Banks post interest on 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 no of days even in Non-Leap Years..
SO using the comp freq = 4 is appropriate or not?
Thanks in advance
From India, Pune
I just read one of your earlier solutions of Term Deposit Interest calculation and found it very useful :
https://www.citehr.com/180115-excel-software.html
I am sorry I am mentioning about the other thread as that one's closed long back as its 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 if you could share some inputs incase you have them..
Leap Years are 366 days and the Int Rate is per annum so is it for 365 or 366 days?
THen Banks post interest on 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 no of days even in Non-Leap Years..
SO using the comp freq = 4 is appropriate or not?
Thanks in advance
From India, Pune
Hi Vaibhav,
Thanks for raising a query. You may be right - it is a school day formula. But to my surprise, it still works good. 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 EXCEL FORMULA seem to be holds 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
Thanks for raising a query. You may be right - it is a school day formula. But to my surprise, it still works good. 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 EXCEL FORMULA seem to be holds 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
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 what formula should one employ as after going through the PDF you will find its quite ambiguous..
I was hitting the wall on two things lets 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 Int would be from the Staring Date till the first End date of which quarter it falls into lets call it as the Split Date..
From the above example: 34-May-2012 till 30-Jun-2012 Simple Interest would be calculated and 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 actually if we have to split the Actual No of Days in Year it will be total no of days in a year divided by 4 which would be 366/4=91.5 and 365/4=91.25..
So the Int Rate per annum is it for 366 and 365 and if its for more than a year where both Leap and Non_leap years are being occuring then whats 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
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 what formula should one employ as after going through the PDF you will find its quite ambiguous..
I was hitting the wall on two things lets 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 Int would be from the Staring Date till the first End date of which quarter it falls into lets call it as the Split Date..
From the above example: 34-May-2012 till 30-Jun-2012 Simple Interest would be calculated and 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 actually if we have to split the Actual No of Days in Year it will be total no of days in a year divided by 4 which would be 366/4=91.5 and 365/4=91.25..
So the Int Rate per annum is it for 366 and 365 and if its for more than a year where both Leap and Non_leap years are being occuring then whats 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
I am providing an Excel Sheet with a lot of examples where the Actual maturity Amount is given.
These are the some Maturity Amounts I asked from friend(s) who work in different Banks..
So the reliability of Maturity Amounts is unquestionable..
Waiting for a response..
From India, Pune
These are the some Maturity Amounts I asked from friend(s) who work in different Banks..
So the reliability of Maturity Amounts is unquestionable..
Waiting for a response..
From India, Pune
Also please note somethings which can cause changes in the actual answers:
Tip:-I have also read somewhere that the Comp Freq is Qtrly 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 FD's 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
Tip:-I have also read somewhere that the Comp Freq is Qtrly 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 FD's 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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IMAGES IN EXCEL.ZIP
Advanced Excel 2003.pdf