Forum Discussion
Correct actual new balance after interest minus payment.
I start with an exact dollar and cent balance on a loan calculation. I compute interest to the nearest penny. 21.4 cents is posted as 21 cents. 21.5 would post as 22 cents, etc. When I add interest for the month, deduct the payment and reflect the new balance in C3 I.e. C3=C2 + A3 - B3, that balance is sometimes one cent higher or lower than the actual balance. For instance the first new balance ended as .68 when it was actually .6755. The added interest was .12 but the actual amount was .1186. Adding .68 plus .12 equals .80. However, the new balance shows .79 as the computed total is .7941.
How do I get the new balance to reflect .80, not .79? I thought you used ABS as in the old Lotus 123 program but that doesn't do it. Can anyone tell me the function for fixing both the new balance and the interest computed co
4 Replies
Round the result of all formulas to 2 decimal places. So for example if your formula for interest is
=interestcalculation
change it to
=ROUND(interestcalculation, 2)
etc.
Thanx for the quick response. Looked through the functions list and didn't see that one. Have a great day.HansVogelaar
interestcalculation was not meant as a real function, just as a placeholder for whatever you're using.
For example if you have
=D2*1.23%
change it to
=ROUND(D2*1.23%, 2)
