P
pogiman via OfficeKB.com
I don't know if this had been asked but I'll ask it (again) anyway.
I'm trying to allocate/distribute a quarterly interest on a monthly basis
with consideration to the no. of days that it took for the 1st and last month
whose days are not whole month.
A sample to make things clear:
Interest of $90,000 due on 10-Sep-2009. The interest cover the quarter 10-
Jun-2009 to 10-Sep-2009 and 4 columns are for the months (Jun, Jul, Aug and
Sep) to have a result like this:
Jun 10 to 30 - 20 days - $90,000x20/92 = $20,543.48
Jul 1 to 31 - 31 days - $90,000x31/92 = $30,326.09
Aug 1 to 31 - 31 days - $90,000x31/92 = $30,326.09
Sep 1 to 10 - 10 days - $90,000x20/92 = $ 8,804.35
The formula can be use for computing depreciation and other similar problems.
Thanks!
I'm trying to allocate/distribute a quarterly interest on a monthly basis
with consideration to the no. of days that it took for the 1st and last month
whose days are not whole month.
A sample to make things clear:
Interest of $90,000 due on 10-Sep-2009. The interest cover the quarter 10-
Jun-2009 to 10-Sep-2009 and 4 columns are for the months (Jun, Jul, Aug and
Sep) to have a result like this:
Jun 10 to 30 - 20 days - $90,000x20/92 = $20,543.48
Jul 1 to 31 - 31 days - $90,000x31/92 = $30,326.09
Aug 1 to 31 - 31 days - $90,000x31/92 = $30,326.09
Sep 1 to 10 - 10 days - $90,000x20/92 = $ 8,804.35
The formula can be use for computing depreciation and other similar problems.
Thanks!