Troubleshooting SumProduct #VALUE error

MicheeBee

New Member
Joined
Feb 1, 2010
Messages
4
I'm relatively new to using SUMPRODUCT and haven't ever had to troubleshoot the formula when it isn't working. I've got the following construct:

Month: Numbers 1-12
Action: text list of 14 different actions taken (e.g., new, modify, write-off
Type: text list of 5 difference types (e.g., grant, loan, equity gap)
Amount: number (representing the award)

I have 600 rows of data. The four columns are named as listed above. My formula is as follows:

=sumproduct((month=9)*(action="new")*(type="grant")*amount))

Where the red 9 is above I really want to be able to refer to a list where each row represents a different month but that was proving more difficult so I'd be happy with getting the formula to work once then I'd tackle that problem.

Are the text = references what are causing my problem?

I've evaluated each piece of the sumproduct for my entire data table and I should get 6 detail items returning a total of $300,000.
 
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Excel Facts

How to calculate loan payments in Excel?
Use the PMT function: =PMT(5%/12,60,-25000) is for a $25,000 loan, 5% annual interest, 60 month loan.

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