Need help cleaning up a formula

EssKayKay

Board Regular
Joined
Jan 5, 2003
Messages
91
I have a formula in a worksheet provided by others. I’d like assistance to clean it up. I no longer need to include reference to a couple options – “Acc Weekly” and “Acc Bi-Weekly”. I like to remove reference to both of these in the following formula.

IF(F8>0,(IF($F$12="Acc Bi-Weekly",ROUND((-PMT((((1+Amortize!F7/CP)^(CP/12))-1),term*12,loan_amount))/2,2),IF($F$12="Acc Weekly",ROUND((-PMT((((1+Amortize!F7/CP)^(CP/12))-1),term*12,loan_amount))/4,2),ROUND(-PMT(((1+F7/CP)^(CP/periods_per_year))-1,nper,loan_amount),2)))),0)

Thanks,
SKK
 

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joeu2004

Well-known Member
Joined
Mar 2, 2014
Messages
2,813
Office Version
  1. 2010
Platform
  1. Windows
I think you want:

IF(F8>0, ROUND(PMT((1+F7/CP)^(CP/periods_per_year)-1, nper, -loan_amount), 2), 0)

But I'm not sure that is mathematically correct. I suggest that you provide a numerical example, if you would like another set of eyes to vet the calculation.

Provide values for CP, periods_per_year, nper, loan_amount, F7 and F8, and describe their purpose. For example, obviously nper is "number of payments" (periods). What is CP, and how do they differ?

If any are calculated, be sure to provide referenced values.

Also, identify your region and whether the loan is for a mortgage or something else. Are you sure that the annual rate (F7) is expressed as a compounded rate?
 
Last edited:

EssKayKay

Board Regular
Joined
Jan 5, 2003
Messages
91
I think you want:

IF(F8>0, ROUND(PMT((1+F7/CP)^(CP/periods_per_year)-1, nper, -loan_amount), 2), 0)

But I'm not sure that is mathematically correct. I suggest that you provide a numerical example, if you would like another set of eyes to vet the calculation.

Provide values for CP, periods_per_year, nper, loan_amount, F7 and F8, and describe their purpose. For example, obviously nper is "number of payments" (periods). What is CP, and how do they differ?

If any are calculated, be sure to provide referenced values.

Also, identify your region and whether the loan is for a mortgage or something else. Are you sure that the annual rate (F7) is expressed as a compounded rate?

Hey Joeu,

This appears to be doing exactly what I had in mind. You truly are a gentleman and a scholar.

Thank you very much,
Steve K.
 

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