formula

Giganews Newsgroups
Subject: formula
Posted by:  amy
Date: Tue, 23 May 2006

I am trying to work on a spreadsheet and am stuck on how to approach a
formula.  I have a spreadsheet that calculates three numbers called penalty,
interest and principal.  I then have to have a formula that applies a payment
to each item in a certain order.  Once I receive a payment it has to be first
allocated to the penalty, then if any is left over it has to reduce the
interest, then finally it gets applied to the principal.  In other words I am
looking to set a formula with specific payment allocation.  I was trying to
do it with an if then statement but am very stuck any ideas

--
Amy

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