# Weighted Average Loan Payment Formula

#### gjeberly

##### New Member
Hi everyone,

I'm attempting to create a formula that calculates a "paid-to date" for a loan that has multiple principal balances. I want to be able to plug in a payment amount and have a formula in the Interest Paid-to column determine the paid-to date by applying the payment to the loan with the oldest closing date until it is caught up to the next one.

For example, if a payment of \$5,200 was made in October, the paid-to dates would move forward as follows:

111223a: 10/02/19 (\$5,166.67/\$166.67 = 31 days)
111223b: 10/02/19 (\$33.33/\$33.33 = 1 day)
111223c: 11/01/19
 Loan Number Subject Address Loan Amount Interest Rate Funding Date Closing Date Interest Paid-to Daily Interest Rate 111223a 123 ABC Street 500,000.00 12.00% 09/01/19 09/01/19 10/02/19 166.67 111223b 123 ABC Street 100,000.00 12.00% 09/25/19 10/01/19 10/02/19 33.33 111223c 123 ABC Street 300,000.00 12.00% 10/25/19 11/01/19 11/01/19 100.00

<tbody>
</tbody>

My initial thought was to figure out a weighted average system to apply the daily interest rate weighted by the closing date using SUMPRODUCT, however I can't seem to work anything out. Ultimately I need the formula to turn the payment into a number of days based on the daily interest rate, and keep the paid-to dates even for all three principal balances once it passes the closing date for each.

Any input would be appreciated, thank you!

### Excel Facts

Best way to learn Power Query?
Read M is for (Data) Monkey book by Ken Puls and Miguel Escobar. It is the complete guide to Power Query.

#### gjeberly

##### New Member
If there's anything I can do to help clarify feel free to ask.

Replies
8
Views
117
Replies
1
Views
86
Replies
4
Views
256
Replies
9
Views
1K
Replies
1
Views
121

1,127,567
Messages
5,625,550
Members
416,116
Latest member
Joemamasuka

### We've detected that you are using an adblocker.

We have a great community of people providing Excel help here, but the hosting costs are enormous. You can help keep this site running by allowing ads on MrExcel.com.

### Which adblocker are you using?

1)Click on the icon in the browser’s toolbar.
2)Click on the icon in the browser’s toolbar.
2)Click on the "Pause on this site" option.
Go back

1)Click on the icon in the browser’s toolbar.
2)Click on the toggle to disable it for "mrexcel.com".
Go back

### Disable uBlock Origin

Follow these easy steps to disable uBlock Origin

1)Click on the icon in the browser’s toolbar.
2)Click on the "Power" button.
3)Click on the "Refresh" button.
Go back

### Disable uBlock

Follow these easy steps to disable uBlock

1)Click on the icon in the browser’s toolbar.
2)Click on the "Power" button.
3)Click on the "Refresh" button.
Go back