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Add insurance to loan payments
I need to add insurance premiums to equipment loans, if selected by a
customer. We offer 3 kinds of insurance. Insurance inputs are in cells as follows: Credit Life in C17:G17 Disability in C18:G18 Physical Damage in J16:J18 Then I have interest rates in B20:K20. There are only 5 rates, 2 merged cells per rate, eg, B20:C20 is 7.0%, etc, for terms of 2-3-4-5-6 years I want to calculate a loan payment ONLY if one or more insurance rates are selected, AND there is an interest rate put in. For example, if there is an insurance premium selected, and I put an interest rate in only 2 of the 5 (for a 4 year or 5 year loan), I want to calculate only those 2 payments. I have no trouble calculating payments, just how to set up the multiple criteria. I have a separate section where I calculate the same loan without insurance added. I have tried IF and IF/OR formulas, but haven't got it right. Any ideas? Thanks in advance VRhodes |
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