Check if date is a business day

N

neda5

I have interest payments that occur 28 days from a certain date. If that day
is not a business day then I need the following day. Is there a formula that
I can use to check if the date that is 28 days from the previous payment is a
business day?
Thanks.
Neda
 
N

N Harkawat

=CHOOSE(WEEKDAY(A1,2),0,0,0,0,0,2,1)+A1+28
where A1 holds the *certain date*
 
R

Ron Coderre

If your start date is in cell A2, then try this:
B2: =+A2+28+CHOOSE(MAX(WEEKDAY(A2+28,2)-4,1),0,2,1)

Does that help?
 
D

Dave O

Assuming your payment date is in cell A1, I came up with this. This
formula adds 28 days to the A1 date and determines if that day is a
weekday. If the date is a Saturday or Sunday it adds days
appropriately so the result date is a Monday.
=IF(WEEKDAY(A1+28)=1,A1+28+1,IF(WEEKDAY(A1+28)=7,A1+28+2,A1+28))
.... where Sunday is day 1 and Saturday is day 7.

Also consider the WORKDAY() function, which disregards holidays (in a
list you specify) and weekends in its calculations; I tried assuming
that in 4 weeks there are 8 weekend days and tried =WORKDAY(A1,28-8)
but did not always come up with the same answers as the WEEKDAY
solution. Will either of these fit your situation?
 
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