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Contract payments where the last payment is different

  1. #1
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    Unhappy Contract payments where the last payment is different

    I am trying to make quotes for my orthodontic office which will automatically post the figures for me. I usually just send these to my daughter and she sends them back working but this time we are stumped.

    Due to the %discounts the figures don't work out correctly and the last payment is slightly more or less by a few cents, I am looking for the formula which will figure this correctly
    EX:
    Contract $4140.70

    Down payment 25%
    =E4*0.25
    $1035.18

    17 monthly payments of $???$
    with one final payment which should be slightly different

    I had been using =(E4-D9)/18 for the payments but I can't make that last one calculate to be correct no matter what. I thought it might be the rounding of 2 decimal points??

    So a contract of $4140.70
    less down payment of 25% $1035.175 rounded to $1035.18
    remaining balance $3105.52 over 18 months = payments of 172.528 or $172.52
    with one final payment of $172.51
    This final payment calculation is where I'm stumped!!!
    Any help would be greatly appreciated I have enclosed a portion of the spreadsheet

    THANK YOU!!!
    Attached Files Attached Files

  2. #2
    Forum Moderator Glenn Kennedy's Avatar
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    Re: Contract payments where the last payment is different

    Just a few rounding errors that nneded to be corrected using =ROUND(formula,2) to return 2 decimal places.
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    Glenn




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