JohnStevensInc
Board Regular
- Joined
- Dec 2, 2003
- Messages
- 109
I have three rows of data. M = Month. TP = Total Payment. IP = Interest Payment and PP = Principal Payment.
M TP IP PP
1 600 100 500
2 0 0 0
3 0 0 0
4 1800 300 1500
5 0 0 0
6 1200 200 1000
Interest of $100 is always deducted from the total payment. If a customer skips a month(s), then the previous month(s) Interest Payment and this month's Interest Payment must be deducted from the Total Payment prior to determining the Principal Payment. What is a formula I could use in the Interest Payment column to calculate as:
IF the previous month's Interest Payment was 0, then determine the number of previous month's Interest Payments that were 0 and times that number by the default interest payment ($100) and deduct that from the Total Payment to determine the Principal Payment. IF the previous month's Interest Payment was not 0 then deduct the default interest payment from the Total Payment to determine the Principal Payment.
Thank you. Any help is very much appreciated!
M TP IP PP
1 600 100 500
2 0 0 0
3 0 0 0
4 1800 300 1500
5 0 0 0
6 1200 200 1000
Interest of $100 is always deducted from the total payment. If a customer skips a month(s), then the previous month(s) Interest Payment and this month's Interest Payment must be deducted from the Total Payment prior to determining the Principal Payment. What is a formula I could use in the Interest Payment column to calculate as:
IF the previous month's Interest Payment was 0, then determine the number of previous month's Interest Payments that were 0 and times that number by the default interest payment ($100) and deduct that from the Total Payment to determine the Principal Payment. IF the previous month's Interest Payment was not 0 then deduct the default interest payment from the Total Payment to determine the Principal Payment.
Thank you. Any help is very much appreciated!