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Don_777's avatar
Don_777
Copper Contributor
Jun 20, 2022

Payment formula for even dollar payment amounts.

Often I need to divide an amount into 1/2 down and 6 payments.  I am permitted to have change in the payment amount.  Using the excel spreadsheet can take an amount for example.

$1,003  divide it by 1/2 ($501.50 and 6 payments @ $83.58)  which leaves me with cents, which I am not permitted to have.

I would like to take the cents and add it back to the down payment leaving an even dollar payment amount.   Down payment $502,  balance $498  paid  over (6) payments @ $83.

Is there a formula that can make these caluclati