RE: formula

Giganews Newsgroups
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

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In response to

formula posted by amy on Tue, 23 May 2006