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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 - RIP Richard Buttrey's Avatar
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    Re: Excel Formula, Payment calculation


    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

    RIP - d. 06/10/2022

    If any of the responses have helped then please consider rating them by clicking the small star icon below the post.

  3. #3
    Administrator 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.

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