calculate future date

K

kevrgallagher

I need to calculate a future date. Sohow do I calculate the final payment
date? Weeks or Months?

Total $3,000.00

Payments $34.00

Begin Date 4/5/05

End Date ?

thanks in advance
 
R

Ron Rosenfeld

I need to calculate a future date. Sohow do I calculate the final payment
date? Weeks or Months?

Total $3,000.00

Payments $34.00

Begin Date 4/5/05

End Date ?

thanks in advance
Click to expand...

Are you the payor or the lender?

If you are the payor, then you need to calculate it the same as your lender.

If you are the lender, then you can decide.

To add dates, understand that Excel stores dates as serial numbers with
1 = "1 Jan 1900" or "2 Jan 1904" depending on the date system selected.

So to add weeks: FutureDate = StartDate + NumberOfWeeks * 7

To add months: Futuredate = DATE(YEAR(StartDate), MONTH(StartDate)+
NumberOfMonths, DAY(StartDate)).

In adding months, since all months do not have the same number of days, you may
get unexpected results if DAY(StartDate) is greater than 28.


--ron
 
F

Fred Smith

Are your payments weekly or monthly? Is interest being charged?

Regardless, assume the Total is in a1, Payments in a2 and Begin Date in a3

First, you need to calculate the number of periods. If no interest is being
charged, the term is a1/a2. If interest is involved, you calculate the number of
periods with =nper(rate,a2,-a1). Assume this result is in a4.

If payments are weekly, your end date is a3+a4*7
If payments are monthly, your end date is =date(year(a3),month(a3)+a4,day(a3))
 
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