Calculating Finance Charges
 

I am trying to calculate finance charges on an invoice at a rate of 1.8% per
month. This is to send to a customer. Can someone please tell me how to do
this. Thanks very much in advance!!

Regards,

Calculating Finance Charges
 

=amount*1.018 gives you each month's finance charge.

If the amount in month 1 is $100, then $100*1.018 = $101.8

Invoice plus month 2 finance charges is $101.8*1.018 = $103.6324 etc

Dave
--
Brevity is the soul of wit.


"lindadi" wrote:

I am trying to calculate finance charges on an invoice at a rate of 1.8% per
month. This is to send to a customer. Can someone please tell me how to do
this. Thanks very much in advance!!

Regards,

Calculating Finance Charges
 

lindadi wrote:
I am trying to calculate finance charges on an invoice at a rate of 1.8% per
month. This is to send to a customer. Can someone please tell me how to do
this. Thanks very much in advance!!

If A1 contains the balance due, the following computes one month's
finance charges:

=round(A1*1.8%, 2)

ROUND() rounds the amount to the cent, assuming a centidecimal currency
system (e.g. US).

If that formula is in A2, the total amount due is:

=A1+A2