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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, |
#2
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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, |
#3
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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 |
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