kristina_q
New Member
- Joined
- Jul 23, 2004
- Messages
- 2
I am trying to recreate a loan statement and need help with a formula to calculate the dates on which payments/interest are paid/charged.
Payments are paid fortnightly and interest is charged at the end of each calendar month. For example if the loan began on the 1st April, the first payment would be paid on the 15th April, the next payment would be made on the 29th April and interest would be charged on the 30th April and so on.
The table would look something like this:
15-Apr Payment
29-Apr Payment
30-Apr Interest Charge
13-May Payment
27-May Payment
31-May Interest Charge
10-Jun Payment
24-Jun Payment
30-Jun Interest Charge
and so on...
I've been playing around with a formula (I found on one of the older posts) that finds the end of the month given a date reference:
ie. DATE(YEAR(reference),1+MONTH(reference),0)
along with an IF statement but can't seem to recreate the dates I need as above...
Any would be appreciated...
Payments are paid fortnightly and interest is charged at the end of each calendar month. For example if the loan began on the 1st April, the first payment would be paid on the 15th April, the next payment would be made on the 29th April and interest would be charged on the 30th April and so on.
The table would look something like this:
15-Apr Payment
29-Apr Payment
30-Apr Interest Charge
13-May Payment
27-May Payment
31-May Interest Charge
10-Jun Payment
24-Jun Payment
30-Jun Interest Charge
and so on...
I've been playing around with a formula (I found on one of the older posts) that finds the end of the month given a date reference:
ie. DATE(YEAR(reference),1+MONTH(reference),0)
along with an IF statement but can't seem to recreate the dates I need as above...
Any would be appreciated...