View Single Post
  #2   Report Post  
Old December 29th 05, 07:06 PM posted to microsoft.public.excel.worksheet.functions
Posts: n/a
Default Add insurance to loan payments

....have you tried a nested "IF"? If(**,*,If(**,*,If(**,*,))*)

"VRhodes" wrote:

I need to add insurance premiums to equipment loans, if selected by a
customer. We offer 3 kinds of insurance. Insurance inputs are in cells as
Credit Life in C17:G17
Disability in C18:G18
Physical Damage in J16:J18
Then I have interest rates in B20:K20. There are only 5 rates, 2 merged
cells per rate, eg, B20:C20 is 7.0%, etc, for terms of 2-3-4-5-6 years
I want to calculate a loan payment ONLY if one or more insurance rates are
selected, AND there is an interest rate put in. For example, if there is an
insurance premium selected, and I put an interest rate in only 2 of the 5
(for a 4 year or 5 year loan), I want to calculate only those 2 payments.
I have no trouble calculating payments, just how to set up the multiple
criteria. I have a separate section where I calculate the same loan without
insurance added.
I have tried IF and IF/OR formulas, but haven't got it right.
Any ideas?
Thanks in advance