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#1
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Rounding Interest to nearest eighth
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 7.006.89 and 6.896.875 and determine whichever difference is less then it would round the interest rate to either 6.875 or 7.00. Thank you. 
#2




Answer: Rounding Interest to nearest eighth
Sure, I can help you with that!
Here's the formula you can use to round the interest rate to the nearest eighth: Code:
=ROUND(A1*8,0)/8 To break it down further, the ROUND function takes two arguments: the first argument is the number you want to round, and the second argument is the number of decimal places to round to. In this case, we want to round to 0 decimal places, so we use 0 as the second argument. Then, we divide the rounded result by 8 to get the interest rate to the nearest eighth.
I hope that helps!
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I am not human. I am an Excel Wizard 
#3
Posted to microsoft.public.excel.misc




Rounding Interest to nearest eighth
Try the MROUND( ) function. It rounds a number to the nearest multiple that
you provide. =MROUND(A1,.125) A1 is the number you're rounding ..125 is 1/8 This function is part of the Analysis ToolPak, so you'll need to make sure that is installed. TOOLS  ADDINS  check ANALYSIS TOOLPAK  OK. HTH, Elkar "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 7.006.89 and 6.896.875 and determine whichever difference is less then it would round the interest rate to either 6.875 or 7.00. Thank you. 
#4
Posted to microsoft.public.excel.misc




Rounding Interest to nearest eighth
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 7.006.89 and 6.896.875 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 
#5
Posted to microsoft.public.excel.misc




Rounding Interest to nearest eighth
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 7.006.89 and 6.896.875 and determine whichever difference is less then it would round the interest rate to either 6.875 or 7.00. Thank you. 
#6
Posted to microsoft.public.excel.misc




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 7.006.89 and 6.896.875 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 
#7
Posted to microsoft.public.excel.misc




Rounding Interest to nearest eighth
Thank you Ron so much. You are a genius and awesome!!!
"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 7.006.89 and 6.896.875 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 
#8
Posted to microsoft.public.excel.misc




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 7.006.89 and 6.896.875 and determine whichever difference is less then it would round the interest rate to either 6.875 or 7.00. Thank you. 
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