I have interest payments that occur 28 days from a certain date. If that day
is not a business day then I need the following day. Is there a formula that
I can use to check if the date that is 28 days from the previous payment is a
business day?
Thanks.
Neda

=CHOOSE(WEEKDAY(A1,2),0,0,0,0,0,2,1)+A1+28
where A1 holds the *certain date*

"neda5" wrote in message
...
I have interest payments that occur 28 days from a certain date. If that
day
is not a business day then I need the following day. Is there a formula
that
I can use to check if the date that is 28 days from the previous payment
is a
business day?
Thanks.
Neda

If your start date is in cell A2, then try this:
B2: =+A2+28+CHOOSE(MAX(WEEKDAY(A2+28,2)-4,1),0,2,1)

Does that help?
--
Regards,
Ron


"neda5" wrote:

I have interest payments that occur 28 days from a certain date. If that day
is not a business day then I need the following day. Is there a formula that
I can use to check if the date that is 28 days from the previous payment is a
business day?
Thanks.
Neda

Assuming your payment date is in cell A1, I came up with this. This
formula adds 28 days to the A1 date and determines if that day is a
weekday. If the date is a Saturday or Sunday it adds days
appropriately so the result date is a Monday.
=IF(WEEKDAY(A1+28)=1,A1+28+1,IF(WEEKDAY(A1+28)=7,A 1+28+2,A1+28))
.... where Sunday is day 1 and Saturday is day 7.

Also consider the WORKDAY() function, which disregards holidays (in a
list you specify) and weekends in its calculations; I tried assuming
that in 4 weeks there are 8 weekend days and tried =WORKDAY(A1,28-8)
but did not always come up with the same answers as the WEEKDAY
solution. Will either of these fit your situation?

Yep. That seems to be working. Thanks.

"Dave O" wrote:

Assuming your payment date is in cell A1, I came up with this. This
formula adds 28 days to the A1 date and determines if that day is a
weekday. If the date is a Saturday or Sunday it adds days
appropriately so the result date is a Monday.
=IF(WEEKDAY(A1+28)=1,A1+28+1,IF(WEEKDAY(A1+28)=7,A 1+28+2,A1+28))
.... where Sunday is day 1 and Saturday is day 7.

Also consider the WORKDAY() function, which disregards holidays (in a
list you specify) and weekends in its calculations; I tried assuming
that in 4 weeks there are 8 weekend days and tried =WORKDAY(A1,28-8)
but did not always come up with the same answers as the WEEKDAY
solution. Will either of these fit your situation?