Help with formula to calculate rentals.

XL Pro

Board Regular
Joined
Apr 17, 2002
Messages
249
Office Version
  1. 365
Platform
  1. Windows
I have a worksheet that reports the total number of days a piece of equipment has been on a site for a month.

The breakdown works like this:
4 rental days = 1 week
12 rental days = 1 month

So, if a piece of equipment is rented for 6 days, we want to calculate it as 1 week (5 days) and 1 day, not at 1 week (4 days, per our criteria) and 2 days.

Same thing would apply for 11 days: 2 weeks + 1 day vs 2 weeks (@ 4 day-wk + 3 days).

When the days are 12 or more, the equipment is automatically charged for 1 month.

I can't quite seem to get the formula calculated in my head to figure out what to do.

Thanks for any help or ideas on how to tackle this.
 

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.
You know, I was trying to work with the MOD() function, but wasn't quite getting it right. I think I was making it harder than it was. Your solution is simple enough. Thanks!
 
Upvote 0
Oops.. spoke too soon, 8 & 9 day rentals should be calculated as 2 Weeks. So I came up with this:
=IF(J44>11,"1 MO",IF(AND(J44>=8,J44<=10),"2 WK",IF(J44<5,J44 & " day(s)",INT(J44/5)&" WK "&IF(MOD(J44,5)=0,"",MOD(J44,5)&" DY"))))

10 days is correctly calculated in your formula, but I used it as the criteria for 2 wks anyway.

The main thing was getting me to a good starting point.
 
Upvote 0
Geez, I made it too difficult again. If anyone is following along here, or if anyone cares, the original formula that sulakvea provided works as I needed.

It also made it easy to actually calculate the rental rate.
 
Upvote 0

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