Monthly payment calculator

TheJay

Board Regular
Joined
Nov 12, 2014
Messages
141
I'm looking to break down a total charge into monthly payments.

B2 contains the total charge
B3 contains the number of monthly payments
B5 contains the first instalment
B6 contains the remainder

This would be simple if the amounts were spread evenly, but I want to make sure that any pence are paid in the first monthly payment so that the remainder are exactly the same amount and without any pence.

Can someone please tell me how this can be achieved?
 

Peter_SSs

MrExcel MVP, Moderator
Joined
May 28, 2005
Messages
42,698
Office Version
365
Platform
Windows
Is this what you mean?
If not, what should the results be for these examples and how do you get those results manually?

<b>Payments</b><br /><br /><table border="1" cellspacing="0" cellpadding="0" style="font-family:Arial,Arial; font-size:8pt; background-color:#ffffff; padding-left:2pt; padding-right:2pt; "> <colgroup><col style="font-weight:bold; width:30px; " /><col style="width:82px;" /><col style="width:74px;" /><col style="width:86px;" /></colgroup><tr style="background-color:#cacaca; text-align:center; font-weight:bold; font-size:8pt; "><td > </td><td >A</td><td >B</td><td >C</td></tr><tr style="height:21px ;" ><td style="font-size:8pt; background-color:#cacaca; text-align:center; " >1</td><td style="font-size:10pt; "> </td><td style="font-size:10pt; "> </td><td style="font-size:10pt; "> </td></tr><tr style="height:21px ;" ><td style="font-size:8pt; background-color:#cacaca; text-align:center; " >2</td><td style="font-size:10pt; ">Total</td><td style="font-size:10pt; text-align:right; ">100.23</td><td style="font-size:10pt; text-align:right; ">12,345.67</td></tr><tr style="height:21px ;" ><td style="font-size:8pt; background-color:#cacaca; text-align:center; " >3</td><td style="font-size:10pt; ">Number</td><td style="font-size:10pt; text-align:right; ">12</td><td style="font-size:10pt; text-align:right; ">50</td></tr><tr style="height:21px ;" ><td style="font-size:8pt; background-color:#cacaca; text-align:center; " >4</td><td style="font-size:10pt; "> </td><td style="font-size:10pt; "> </td><td style="font-size:10pt; "> </td></tr><tr style="height:21px ;" ><td style="font-size:8pt; background-color:#cacaca; text-align:center; " >5</td><td style="font-size:10pt; ">First</td><td style="font-size:10pt; text-align:right; ">12.23</td><td style="font-size:10pt; text-align:right; ">291.67</td></tr><tr style="height:21px ;" ><td style="font-size:8pt; background-color:#cacaca; text-align:center; " >6</td><td style="font-size:10pt; ">Remainder</td><td style="font-size:10pt; text-align:right; ">8.00</td><td style="font-size:10pt; text-align:right; ">246.00</td></tr></table><br /><table style="font-family:Arial; font-size:10pt; border-style: groove ;border-color:#00ff00;background-color:#fffcf9; color:#000000; "><tr><td ><b>Spreadsheet Formulas</b></td></tr><tr><td ><table border = "1" cellspacing="0" cellpadding="2" style="font-family:Arial; font-size:9pt;"><tr style="background-color:#cacaca; font-size:10pt;"><td >Cell</td><td >Formula</td></tr><tr><td >B5</td><td >=B2-(B3-1)*B6</td></tr><tr><td >B6</td><td >=INT(B2/B3)</td></tr></table></td></tr></table>
 

TheJay

Board Regular
Joined
Nov 12, 2014
Messages
141
Hello Peter, thanks for your reply. That's exactly right. However, when I tried it it didn't work. It doesn't like: =INT(B2/B3)

I put it into the formula box and it comes back as text in the cell. This is how it appears to me.

Charge£2,000.55
Payments3
First Payment#VALUE!
Subsequent Payments =INT(B2/B3)

<colgroup><col><col></colgroup><tbody>
</tbody>

Why is this? Your rendition looks identical to mine.
 

TheJay

Board Regular
Joined
Nov 12, 2014
Messages
141
Oh, apparently you can't copy the equals sign from the forum else it doesn't work. I retyped it and it's working perfectly. Thank you so much!
 

Peter_SSs

MrExcel MVP, Moderator
Joined
May 28, 2005
Messages
42,698
Office Version
365
Platform
Windows
Oh, apparently you can't copy the equals sign from the forum else it doesn't work.
Normally you can so there must have been some other issue. Anyway, glad it is sorted now. :)
 

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