+ Reply to Thread
Results 1 to 5 of 5

Formula to back into a fee

  1. #1
    Registered User
    Join Date
    06-18-2010
    Location
    Orange Park, FL
    MS-Off Ver
    Office 365
    Posts
    78

    Formula to back into a fee

    I feel like this should be easy, but I can't wrap my head around it.

    A customer makes a payment of $14,752.40, which includes an interest payment of 1.5%. How would I write a formula that shows how much of this payment is principal and how much is interest?

  2. #2
    Forum Contributor
    Join Date
    01-05-2017
    Location
    New York
    MS-Off Ver
    Office 2016
    Posts
    206

    Re: Formula to back into a fee

    Principle =A2*0.985
    Interest =A2*0.015

  3. #3
    Forum Expert shg's Avatar
    Join Date
    06-20-2007
    Location
    The Great State of Texas
    MS-Off Ver
    2003, 2010
    Posts
    40,678

    Re: Formula to back into a fee

    A
    B
    C
    2
    Pmt
    $14,752.40
    3
    Interest Rate
    1.50%
    4
    Principle
    $14,534.38
    B4: =B2/(1+B3)
    5
    Interest Amt
    $218.02
    B5: =B2-B4
    6
    Check
    $14,752.40
    B6: =B4+B5
    Entia non sunt multiplicanda sine necessitate

  4. #4
    Registered User
    Join Date
    06-18-2010
    Location
    Orange Park, FL
    MS-Off Ver
    Office 365
    Posts
    78

    Re: Formula to back into a fee

    Quote Originally Posted by Raphaelp View Post
    Principle =A2*0.985
    Interest =A2*0.015
    Not that easy... by doing that, you come up with $14,531.11 and $221.29, but then if you take $14,531.11 x 1.5% = $217.97.

  5. #5
    Registered User
    Join Date
    06-18-2010
    Location
    Orange Park, FL
    MS-Off Ver
    Office 365
    Posts
    78

    Re: Formula to back into a fee

    Thank you! This works, but I finally found the formula I was looking for.

    =NPV(0.015,14752.4)

+ Reply to Thread

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Similar Threads

  1. Team Generator Kids Soccer - no back to back play
    By EWolfe in forum Excel General
    Replies: 2
    Last Post: 05-15-2017, 10:51 PM
  2. Replies: 9
    Last Post: 08-07-2016, 09:45 PM
  3. Replies: 1
    Last Post: 03-11-2015, 07:27 AM
  4. Array Formula Lookup - Bring back Lowest Date + Bring Back Cell Location
    By Matt1998 in forum Excel Formulas & Functions
    Replies: 3
    Last Post: 06-04-2014, 12:08 PM
  5. [SOLVED] Stop Vlookup bringing back 0's or #REF! and bring back blanks instead
    By Carling73 in forum Excel Formulas & Functions
    Replies: 2
    Last Post: 05-30-2013, 04:43 PM
  6. [SOLVED] Counting Number of Times a Value is Repeated REPEATEDLY (Back to Back)
    By patrickfshield in forum Excel Formulas & Functions
    Replies: 10
    Last Post: 11-06-2012, 04:45 AM
  7. Replies: 0
    Last Post: 10-01-2010, 08:16 AM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts

Search Engine Friendly URLs by vBSEO 3.6.0 RC 1