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staplers staplers is offline
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Default modified amortization schedule for open ended loan with EOM LP

O.K. I figured out your formula and what I did wrong when I made it fit my
cell numbers. After I corrected my mistake, it almost works perfectly -
unless the last Monday in the month is the 17 th and the EOMONTH is the 31st
.. When this happens, the formula calculates one date on the 17, then the
EOMONTH for the 31, and then 17 + 14 = 31 again. It would do the same thing
for a 16th and 30th combination.

Through March 2013, this happens for August 2009 and January 2011.

Your formula almost did the trick, with this exception. I have tried to use
the double date, since it means I am making a payment on the date as well as
a LPP payment on that date, but a single date would work better.

Can you figure out how to eliminate either the last Monday or the EOMONTH in
the case where they coexist?

Thanks for your help.

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staplers


"staplers" wrote:

This doesn't work as I need. [
"=IF(A2=EOMONTH(A2,0),A1+14,IF(MONTH(A2)=MONTH(A2+ 14),A2+14,EOMONTH(A2,0)))"]

For my loan:
D10 = Loan_Start = 3/20/09
A19 = Payment #1 = 3/27/09
A19 €“ A29 = Payments 1 €“ 11, irregular payments trying to set a schedule
A30 = first regular, scheduled biweekly payment = Monday, June 8 = Payment 12
Everything following should be every other Monday + every EOMONTH

Your formula gives 3 dates per month where 2 Mondays exist in the month,
but they are every 14th and every 28th + every EOMONTH. I need them to be
every Monday + every EOMONTH. Your formula never gives 3 Mondays + EOMONTH,
but two months should have these 4 dates.

I can ignore payments 1 -11 since they are not on a schedule, but I need to
begin my schedule by specifying the date for payment 12, Monday, June 8, and
then follow a biweekly schedule + EOMONTH from then on.

Is this possible to do?

--
staplers


"Fred Smith" wrote:

As you said "anything is welcome", here's a formula to do what you want.
Assumes starting date is in a2:
=IF(A2=EOMONTH(A2,0),A1+14,IF(MONTH(A2)=MONTH(A2+1 4),A2+14,EOMONTH(A2,0)))

Regards,
Fred

"staplers" wrote in message
...
I can fill cells of a column with all 26 recurring biweekly Mondays (for
instance) in the year. I can fill cells of a column with all 12 EOMONTHs
in
the year. But I cannot do both at once. How can I create a column that
lists selected biweekly days/dates including EOMONTH for all 12 months?
10
months would have two biweekly days/dates plus one EOMONTH (3 dates) and
two
months would have three biweekly days/dates plus one EOMONTH (4 dates).
This
is for an Open Ended loan I am trying to track with an amortization plan
where I make 26 payments per year, every other Monday, and a Loan
Protection
Plan charge is added to my loan the last day of every month (No, I don't
like
being forced to pay interest on the extra loan amount, but I cannot
pre-pay
it monthly.) I want a €œglobal€ formula using defined ranges, not one that
sequences from the previous/last cell to test and fill the next/succeeding
cell. However, anything is welcome.
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staplers