Rounding Interest to nearest eighth
On Tue, 31 Jan 2006 19:51:46 -0500, Ron Rosenfeld
wrote:
On Tue, 31 Jan 2006 16:26:28 -0800, "Renee Nguy" <Renee
wrote:
Please help me create a formula to round interest rate to nearest eighth.
Example:
original interest rate is 6.89
Rate needs to be either 6.875 or 7.00.
The formula needs to calculate the difference between 7.00-6.89 and
6.89-6.875 and determine whichever difference is less then it would round the
interest rate to either 6.875 or 7.00.
Thank you.
=ROUND(A1/(1/8),0)*1/8
--ron
which, of course, is the same as
=ROUND(A1*8,0) / 8
--ron
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