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Renee Nguy
 
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Default Rounding Interest to nearest eighth

Thanks B. You are awesome!!! Your formula totally worked.

"B. R.Ramachandran" wrote:

Hi,

One possibility:

=ROUND(A1*8,0)/8

Regards,
B. R. Ramachandran

"Renee Nguy" 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.