This is for personal budget and savings within an excel sheet.
Say I have a loan of £1000, I will be paying £10 per month as of 7th December 2019 until the amount is paid off.
I would like to have a summary page on my sheet displaying the current outstanding debt. Currently I can only seem to work out how to deduct the £10 if date greater than/ equal to 7th. Which is not useful as each month after the 7th it’ll display £990.
1000– Your starting loan
DATEFIF– Function to calculate difference between two dates in months
43806– 1st Parameter: Starting date > 7th December 2019
TODAY– 2nd Paremter: Volatile function to feed the second parameter with current date
M– 3rd Parameter: Calculate difference in whole months
+1– Amount of months + 1 to account for all payments
*10– Difference in months times 10 to deduct from starting loan
This would be volatile though, so use sparsely.