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Excel Formula, Payment calculation

  1. #1
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    Excel Formula, Payment calculation

    Hello Guys,

    I work for a auto dealership and my boss asked me to calculate a reserve on finance deals. I have total 5 finance deals and total amount of financed is: $169,819. My spread is always 2% ( buy rate-sell rate)

    The reserve is the difference between buy rate and sell rate. How do I calculate my reserve assuming my spread is always 2%.

    Number of finance deal: 5
    Total Amount financed: $169,819
    Amount of reserve: ?

    Assuming 2% is the spread which is difference between sell rate and buy rate.

  2. #2
    Forum Moderator Richard Buttrey's Avatar
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    Re: Excel Formula, Payment calculation

    Hi,

    Not entirely sure exactly what number you're expecting but maybe simply

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    where A2 is the total amount financed. e.g. 169,819
    Richard Buttrey

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    Forum Moderator alansidman's Avatar
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    Re: Excel Formula, Payment calculation

    crossposted: http://www.mrexcel.com/forum/excel-q...e-formula.html

    Your post does not comply with Rule 8 of our Forum RULES. Do not crosspost your question on multiple forums without including links here to the other threads on other forums.

    Cross-posting is when you post the same question in other forums on the web. The last thing you want to do is waste people's time working on an issue you have already resolved elsewhere. We prefer that you not cross-post at all, but if you do (and it's unlikely to go unnoticed), you MUST provide a link (copy the url from the address bar in your browser) to the cross-post.

    Expect cross-posted questions without a link to be closed and a message will be posted by the moderator explaining why. We are here to help so help us to help you!

    Read this to understand why we ask you to do this, and then please edit your first post to include links to any and all cross-posts in any other forums (not just this site).
    Alan


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