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- 2006 May
- RE: formula

Subject: | RE: formula |

Posted by: | Miguel Zapico |

Date: | Tue, 23 May 2006 |

You can use the MIN function. For example, with names on the formulas:

Penalty: =MIN(payment,penalty)

Interest: =IF(payment>penalty,MIN(payment-penalty,interest),0)

Principal:

=IF(payment>(penalty+interest),MIN(payment-penalty-interest,principal),0)

Hope this helps,

Miguel.

"Amy" wrote:

> 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

None

formula posted by amy on Tue, 23 May 2006