Home » excel » excel – Is there a way to set monthly deductions on a value?

# excel – Is there a way to set monthly deductions on a value?

Questions:

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.

What about `DATEDIF`:

``````=1000-((DATEDIF(43806,TODAY(),"M")+1)*10
``````

Where:

• `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.