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Excel formula that tells how much month left to reach target savings.

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    Lightbulb Excel formula that tells how much month left to reach target savings.

    I m trying to write a formula but either the logic isnt right or i am not able to create it.

    I m going to give you a scenario. Please code this.

    I want to save $10,000 in 12 months.
    How much do I have to save per month to reach my target amount from current month and date.
    Suppose $10,000 / 12 = 833.33 per month

    But if I deposit $933.33 how much earlier I can reach my target amount.?

    The problem here is to figure out how much earlier (month) i can reach the target amount
    For example if its 12 then if I deposit more than I planned to save the month should change from 12 to 11 or 10 depending upon the amount.


    Target month = 12 or any number.
    Target Amount = $10,000
    Contribution required = $833.33 to reach in 12 months from current date/month (formula)

    If deposit $933.33
    Target month which I set $10,000 to reach in 12 months.

    The target month should change and say now you can reach this amount in 10 months.

    I tried alot and confused to a point i cant figure this out anymore.
    This seems really simple but not able to code this.



    Thanks
    - Fadu
    Last edited by fadu4u; 07-27-2014 at 02:00 PM.

  2. #2
    Administrator FDibbins's Avatar
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    Re: Excel formula that tells how much month left to reach target savings.

    I put together a small "table for you...

    A
    B
    1
    Target Month
    12
    2
    Target Amount
    $10,000.00
    3
    Contribution Reqired
    $ 833.33
    4
    5
    Actual Amount
    933.33
    6
    Actual Month
    10.7


    B3=B2/B1
    B6=B2/B5

    You can change B1, B2 and B5 to play with values
    1. Use code tags for VBA. [code] Your Code [/code] (or use the # button)
    2. If your question is resolved, mark it SOLVED using the thread tools
    3. Click on the star if you think someone helped you

    Regards
    Ford

  3. #3
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    Re: Excel formula that tells how much month left to reach target savings.

    thanks this helps!

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