How to calculate a time period in years

[Ebuka]

When finding compound interest, how do I calculate the number of years between any two dates. For example the number of years between 14/02/2008 and 14/12/2008.

Please give me a detailed explanation of the steps

 

[Mike5380]

Are you compounding daily, monthly, yearly?

For daily compounding, it's easier to convert the dates to Julian format then it's a quick subtraction: 2454814-2454510=304 days

But, the range you suggest is only 10 months, so the compounding yearly schedule has not yet matured, thus no interest earned until 14/02/2009. At that point in time, you add the interest earned to the principal and from that moment on the interest that has been added also earns interest. But, it only compounds on the yearly date.

 

[scottlouie123]

Count the number of days between the two marks (including the first mark but not including the second mark). This is the number of days that just occurred during your most recent menstrual cycle.