Newbie Formula Help Plz

  • Thread starter Thread starter Sonars_UK
  • Start date Start date
S

Sonars_UK

Hi,

I've created a spreadsheet to try and forecast my companies future
spendings/earnings and bank balance.

The columns I have at the moment are:
A-Date, B-Details, C-Paid Out, D-Paid In, E-Balance at bank.

I'd like to know if it is possible to create a formula that does the
following:
If column B equals 'Interest' then the calcuation below would occur and the
result be entered in column D.

Multiply the total in column E (in the line previous to where 'Interest' has
been entered) by 0.05 and divide by 12.

I've only been using Excel for a couple of weeks and I am currently working
out the interest figures manually. I'm create a forecast that goes many
years into the future and if I insert or delete an entry I then have to go
through all subsequent interest payments and do the sums.

Any help would be very much appreciated.

Kind regards,

Sonars UK
 
In cell D3 - assuming row 2 has data

=if(b3="interest",0.05*e2/12,0)

copy this formula down column D

Note the 0.05 could be a variable entered in column F for instance

=if(b3="interest",f3*e2/12,0
 
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