I'd like to have my VLOOKUP function work with a sum function, but do not know how to formulate. Example: Calculating Previous Depreciation
YEAR OF LIFE_DEPREC METHOD__USEFUL LIFE__COST__PREV DEPREC_
3_____________MACR 5___________5________ 4,060_____ 1,949
The lower table represents rates of depreciation each year whic corresponds to the year of life an asset is in.
MACR 5
rate
1 .20000
2 .32000
3 .19200
4 .11520
5 .11520
6 .05760
I'd like Excel to use a VLOOKUP function to find the rates according to 'Year of Life' and then add each year's function of (cost * rate) up to the appropriate year. The formula must 'Year of Life' minus 1 to get 'Previous Deprec' Thanks for your help.
YEAR OF LIFE_DEPREC METHOD__USEFUL LIFE__COST__PREV DEPREC_
3_____________MACR 5___________5________ 4,060_____ 1,949
The lower table represents rates of depreciation each year whic corresponds to the year of life an asset is in.
MACR 5
rate
1 .20000
2 .32000
3 .19200
4 .11520
5 .11520
6 .05760
I'd like Excel to use a VLOOKUP function to find the rates according to 'Year of Life' and then add each year's function of (cost * rate) up to the appropriate year. The formula must 'Year of Life' minus 1 to get 'Previous Deprec' Thanks for your help.