# I need help amending a formula used to compute interest on a loan for multiple payments

1. ## I need help amending a formula used to compute interest on a loan for multiple payments

=ROUND(+IF(N21>0,0,C21*\$D\$7*((+B21-B20)/365)),2)
this is the current formula N21 is interest arrears, B20 can be call March 31 B21 can be called April 30th. So this formula will only calculate interest if they are no arrears and it is calculated for 30 days. My difficulty is how to modify it for cases where the customer pays on APril 15th and then again on April 26th for example. Will i need to insert a column for the payment date and work from there help please.

2. ## Re: I need help amending a formula used to compute interest on a loan for multiple payment

Please attach a copy of your workbook so we can test solutions on your own data. Remember to remove/replace any sensitive info before uploading.

3. ## Re: I need help amending a formula used to compute interest on a loan for multiple payment

Loan AMortization beta test data.xlsx

I have attached a sheet above.

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