Hello!
This pertains to a model I am using to calculate interest rates for mortgages. Rates can be floating or fixed and the interest rate calculation method can either be Actual/360 or 30/360.
There are 2x cells with dropdown choice similar to the below. (E3 & E4) which have values, and depending on the combination of these values (e.g. 3&1 or 2&2) I want to adjust the formula that is used to determine the output.
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As of right now, the interest rate is calculated in cell F37. The calculation is being determined by the value in cell E3, however I would like to adjust the calculation based on the value in E4.
If E4 = "Actual/360" (or "1") the interest rate in F37 should be divided by 360 and then multiplied by 365.
Is the correct way to resolve this to use an =IF(AND( statement to adjust the calculation based on the criteria in cell E3 & E4? I am assuming I would have to set up all of my combinations separately unless there is an easier way to do this?
Regards,
Vexorg
This pertains to a model I am using to calculate interest rates for mortgages. Rates can be floating or fixed and the interest rate calculation method can either be Actual/360 or 30/360.
There are 2x cells with dropdown choice similar to the below. (E3 & E4) which have values, and depending on the combination of these values (e.g. 3&1 or 2&2) I want to adjust the formula that is used to determine the output.
Column E | ||||
Current Choice (Drop-down data validation) | Choices | |||
Row 3 | Rate Type | Fixed | Fixed (value=3), Floating (value=2) | |
Row 4 | Interest Calculation | Actual/360 | Actual/360 (value=1), 30/360 (value=2) |
<tbody>
</tbody>
As of right now, the interest rate is calculated in cell F37. The calculation is being determined by the value in cell E3, however I would like to adjust the calculation based on the value in E4.
If E4 = "Actual/360" (or "1") the interest rate in F37 should be divided by 360 and then multiplied by 365.
Is the correct way to resolve this to use an =IF(AND( statement to adjust the calculation based on the criteria in cell E3 & E4? I am assuming I would have to set up all of my combinations separately unless there is an easier way to do this?
Regards,
Vexorg