Hello everyone,
I have recently created a spreadsheet which shows total money owned and total months in default.
I use this function which change the date =IF(TODAY()>=F19,DATE(YEAR(TODAY()),MONTH(TODAY())+IF(DAY(TODAY())>12,0),12),F19) - and that I calculates total month in default.
Let's say that I lent 10k on 12/5/2018 and due back was on 12/8/2018 - total money back 12k(include interest etc).
The borrower did not pay back and my default interest is 2%.
My function for calculating the money owned by borrower is =G4*(1+J4)^K4 (G4 is the amount due back*(1+default(2%))*total months in default which I calculate seperately((today's - due back)/30.4(month)).
I found that the function ((today's - due back)/month or 30.4) gives you an incorrect number in money owned by the borrower. When I rewrite the cell with the total months in default and i input only number than the momey owned by borrower is correct.
Could someone help me why does it do that?
Thank you
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