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Automating out current loan period from start date and todays date in IMPT function

  1. #1
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    Automating out current loan period from start date and todays date in IMPT function

    Hey

    After a bit of help if I may

    Trying to automate the period part of the impt function

    To calculate current value of loan i have the below formula below with the 3 being the current period

    =IPMT(4.3%/12,3,5*12,-7000)/(4.3%/12)

    What i would like to do is for the period to be self calcuating from current date and the loan start date. I can return a value in days using start date - today() and aware month function returns the month number but stuggling to find a way to work out cumulative month from the start date

    Any help would be greatly appreciated

    Regards

    Richard

  2. #2
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    Re: Automating out current loan period from start date and todays date in IMPT function

    =IPMT(4.3%/12,DATEDIF(StartDate,TODAY(),"m"),5*12,-7000)/(4.3%/12)
    Bernie Deitrick
    Excel MVP 2000-2010

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    Re: Automating out current loan period from start date and todays date in IMPT function

    Thanks but can not find function datedif? Anything i need to turn on to enable it?

    Richard

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    Re: Automating out current loan period from start date and todays date in IMPT function

    It is not listed as a function but it is available in all newer versions of Excel, AFAIK.

    http://spreadsheetpage.com/index.php...edif_function/

  5. #5
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    Re: Automating out current loan period from start date and todays date in IMPT function

    Thanks so much for your help. Now works perfectly

    Didnt work initially but realised that the value was returning zero. Once the value ticks over to 1 works perfectly.

    Richard

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