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Help Calculating Compounded Interest for a Missed Payment with Interest Rate Changing

I need help designing a query (or two) in MS Access that will
calculate a compounded rate of interest. This would be no problem
using a simple FV function if the Interest Rate were constant.
Unfortunately the Interest rate changes through time. Whenever a new
interest rate period begins, I need to calculate the interest for the
new period using the ending balance from the previous interest rate
period. See example below. Unfortunately, I can't do this in Excel
because there are over 2,000,000 records.

ID PMT PMTDt Daily IntRate IntStart IntEnd FVPMT Comment
1 1000 1/1/2000 0.0080990% 12/31/1998 12/31/2000 1040
1 1000 1/1/2000 0.0107460% 1/1/2001 6/30/2001 1,060.31
1 1000 1/1/2000 0.0040940% 7/1/2001 11/30/2004 1115.89
2 2000 2/1/2001 0.0107460% 1/1/2001 6/30/2001 2039.06
2 2000 2/1/2001 0.0040940% 7/1/2001 11/30/2004 2145.95

Thanks for any help you can provide.

Jason
Nov 13 '05 #1
0 1731

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