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Working out payments with compund interest and partial advance payments

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    Working out payments with compund interest and partial advance payments

    Hi, I have some data to prepare every month and I want an excel formula which can ease my work.
    Example of the data.
    There is an Invoice of 980.00 which should due on or before 15th of every month if not paid then 1.5% compound interest will be added until paid. And if amount paid partially before due date then interest calculated after deducting the payment and if paid after the due date then interest to be added on the amount then deducting the paid amount.
    it is simple when due is for a month or 2 but it becomes little difficult to calculate if more months.

    pls help...
    Last edited by AliGW; 05-01-2022 at 10:30 AM. Reason: Title changed - please think more carefully about your thread titles in future!

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    Forum Moderator AliGW's Avatar
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    Re: Working out payments with compund interest and partial advance payments

    Welcome to the forum.

    There are instructions at the top of the page explaining how to attach your sample workbook.

    A good sample workbook has just 10-20 rows of representative data that has been desensitised. It also has expected results mocked up, relevant cells highlighted and a few explanatory notes.

    Administrative Note:

    Your thread title does not really convey what your request is about. Tell us what you are trying to do, not how you think it should be done.

    Please take a moment to amend your thread title. Make sure that the title properly explains your request. Your title should be explicit and not be generic (this includes function names used without an indication of what you are trying to achieve).

    Please see Forum Rule #1 about proper thread titles and adjust accordingly. To edit the thread title, open the original post to edit and then click on Go Advanced (bottom right) to access the area where you can edit your title.

    (Note: this change is not optional. As you are new here, I have done it for you this time.)
    Ali


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