How to arrange interest for late payments in excel?

Asked By 40 points N/A Posted on -
qa-featured

Hello,

i have so many data that needs to be encoded in an excel,how to arrange interest for late payments in excel? Give me some tips on the best way to make my work easy in excel. Some shortcut keys information will do. Thanks

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Answered By 0 points N/A #128435

How to arrange interest for late payments in excel?

qa-featured

 

Hi,
 
Perhaps you can use the IF function to compute for the interest charge on your MS Excel Spreadsheet.
 
=IF(test, then_value, otherwise_value)
 
Let's say the due date is indicated in A1, the principal value is indicated in A2 and the interest rate is at 10%, if due date<=date today, then the cell will return the principal value, else will return principal plus 10% interest.
 
Here's the formula:
 
=IF(A1<NOW(), A2, (A2*10%))
 

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