money calculator

Victtor

Board Regular
Joined
Jan 4, 2007
Messages
166
I need a formula that will tell me how much money a certain dollar amount is. For example, if I had $6.42, I need the calculator to tell me I need the following
Fives = 1
Ones = 1
quarters = 1
dimes = 1
nickels = 1
pennies = 2

I must pay my employees a percentage of the tips every two weeks based on the number of hours they worked. I want to put the exact amount I need overall in one bag and hand them their share.

So...how do I set this up? I have 22 employees and the payout is different for each one. So I guess at the bottom of the sheet there will be a total of all the tens, fives, ones, quarters, dimes, nickels, and pennies I need to do the payout

Thanks in advance
 

Excel Facts

Return population for a City
If you have a list of cities in A2:A100, use Data, Geography. Then =A2.Population and copy down.

barry houdini

MrExcel MVP
Joined
Mar 23, 2005
Messages
20,825
Put the denominations, in dollars in row 1, e.g. in B1:G1

5, 1, 0.25, 0.1, 0.05, 0.01

Then put the amount ($6.24 in your example) in A2

This formula in B2

=INT(A2/B$1)

and this formula in C2 copied across to g2

=INT(ROUND(($A2-SUMPRODUCT($B$1:B$1,$B2:B2))/C$1,2))

This will give you the numbers for each note/coin

Copy B2:G2 formulas down for additional amounts in A3, A4 etc

You can use a SUM formula at the bottom (or even at the top) to give the total amount of each note/coin needed
 

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