Post by ablender on Oct 14, 2015 11:40:46 GMT
Hi,
I did some brain stretching and together with some luck I think I arrived at something that can be useful.
I wanted to find a way to see how much interest was accrued on a loan part (i.e., within the current month).
The columns that are referenced in the following formula are as follows:
column G = Loan part value
column I = start date
column K = Interest from start of loan part.
After a few trials I arrived at
=G10*0.12/365*DAY(TODAY())
This generally worked except when I add new loan parts (i.e., within this current month). The previous formula will still calculate the interest from the start of the month even if I bought the loan part say on the 10th of the month.
I solved this with the following.
=IF(MONTH(TODAY())=MONTH(I10);K10;G10*0.12/365*DAY(TODAY()))
See if it works for you. You are free to use it and adapt it for your needs and particular circumstances.
Please note that I am working with OpenOffice 4 so you might need to do some changes if you are using excel or any other software.
I did this work for myself and decided to share it in case it can be useful to anyone else. I cannot assume any responsabilities of any kind if this formula does not work as intended or for any consequential events beyond this.
I would like to hear your comments and any ideas for further improvement.
Cheers. AB
I did some brain stretching and together with some luck I think I arrived at something that can be useful.
I wanted to find a way to see how much interest was accrued on a loan part (i.e., within the current month).
The columns that are referenced in the following formula are as follows:
column G = Loan part value
column I = start date
column K = Interest from start of loan part.
After a few trials I arrived at
=G10*0.12/365*DAY(TODAY())
This generally worked except when I add new loan parts (i.e., within this current month). The previous formula will still calculate the interest from the start of the month even if I bought the loan part say on the 10th of the month.
I solved this with the following.
=IF(MONTH(TODAY())=MONTH(I10);K10;G10*0.12/365*DAY(TODAY()))
See if it works for you. You are free to use it and adapt it for your needs and particular circumstances.
Please note that I am working with OpenOffice 4 so you might need to do some changes if you are using excel or any other software.
I did this work for myself and decided to share it in case it can be useful to anyone else. I cannot assume any responsabilities of any kind if this formula does not work as intended or for any consequential events beyond this.
I would like to hear your comments and any ideas for further improvement.
Cheers. AB
