Microsoft Office Tutorials and References
In Depth Information
Figure 11-6: This worksheet tracks loan payments that are made on an irregular basis.
Table 11-3 lists and describes the formulas in row 6. Note that each formula uses an IF function to determine
whether the payment date in column C is missing. If so, the formula returns an empty string, so no data appears
in the cell.
Table 11-3: Formulas to Calculate a Loan with Irregular Payments
Calculates the interest, based on the payment date
Subtracts the interest amount from the payment to calculate
the amount credited to principal