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Hi All! I'm still getting used to Excel2007 :-| Here's my question.
I'm trying to create a worksheet that will calculate interest on accounts on a daily basis. The rate is tiered, based on the balance. However, the rates change over time, too. I would like to create a lookup table that stores the rates over time, so that the formula calculating the interest owed does not have to be entered by hand. My lookup table would be in the form of: Account limit 03/01/2009 03/15/2009 2500.00 Rate 1 Rate 2 10000.00 Rate 3 Rate 4 25000.00 Rate 5 Rate 6 etc... Then on my calculation page, I would be inputing the dates that I'm calculating for, and the lookup would choose the rate - i.e. if my balance was 14247.63 on 03/10, my rate would be Rate3, if my balance was 9473.37 on 3/25, my rate would be Rate 2, etc. Also, any assistance with setting this up to be less prone to "input error" is appreciated! |
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