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# I need some help programming some OKPR625211postanswer

I need some help programming some cells on Gmail spreadsheet. I have column for date of event, an \$ amount of the loan, and a column for daily cumulative interest. I dont know how to set this up.

BeBoo :

Hello and thank you for contacting JustAnswer, a paid expert support site. My name is XXXXX XXXXX I'd be glad to assist you with your issue.

BeBoo :

Customer :

yes

BeBoo :

Ok, so you currently have a blank sheet with three columns, correct? I assume you want to calculate the daily cumulative interest?

Customer :

yes

BeBoo :

Ok, are you looking to have a running total (basically, day 1, day 2, etc?

Customer :

i want to see the total interest from the start date to the current date

BeBoo :

Ok, what is the interest rate?

Customer :

12% apr

BeBoo :

so per day that is...

BeBoo :

0.0328767123287671%

BeBoo :

assuming no leap year

Customer :

.003

Customer :

.03... sorry

Customer :

BeBoo :

24 days... \$72 sound right?

BeBoo :

with my number.. \$78.9041095890411

Customer :

ok

BeBoo :

on \$10,000 for instance

BeBoo :

Customer :

yes

BeBoo :

Great. Assuming the date is in A2, loan amount is in B2, put this in C2: =(((12/365)% * B2) * (TODAY()-A2))

BeBoo :

So it takes the apr (12) and divides by 365 days to get the daily percent, times that by the loan amount to get the daily interest. Then, times that by however many days have elapsed since the date (A2) and today.

BeBoo :

Does that make sense?

Customer :

yes, let me try it

BeBoo :

Sure, take your time. I actually need to step away for about 10 minutes. If this worked and you are satisfied, you can rate in the corner. If you need further assistance, I can help when I return.

Customer :

Yes, that seems to work. and if I want to adjust the interest rate, just change the 12 in the formula to whatever the new apr is?

Customer :

And if I want to add a day counter column ( 3 of days elapsed)?

BeBoo :

Sorry, I am back.

BeBoo :

Correct on the interest rate.

BeBoo :

Just use =(TODAY()-A2)

BeBoo :

That will give you says since that day. Today-Today is 0

Customer :

Cool! So if I want to repeat this formula on every line...???

BeBoo :

Select the cell. You will notice a small black box in the lower right corner of the cell. Drag that little box down - it is called the Copy Down feature.

Customer :

Very Cool! And the last thing is I have a column for repayment date. When the loan is paid, how can I freeze (or stop the interest calcs) for that line on the sheet on the date that it was paid... if that make any sense

BeBoo :

So you want to basically calculate the interest unless there is a date in the repayment column, then the interest stops at that date, correct?

Customer :

exactly

BeBoo :

Ok, that requires some IF statements. The formula is going to get a little confusing but I will try to explain it.

BeBoo :

Ok, here you go: =IF(ISBLANK(D2),(((12/365)% * B2) * (TODAY()-A2)),(((12/365)% * B1) * (D2-A2)))

BeBoo :

It's a simply IF statement - the structure is: =IF(test, true, false)

Customer :

that goes in the repayment column?

BeBoo :

So, it tests is D2 is blank (the repayment date). If yes, use today's date. If no (there is a date there), use that date.

BeBoo :

No, this is the C2 formula

Customer :

sweet, let me give it a try

Customer :

Should B1 actually be B2?

BeBoo :

Yes, sorry.

BeBoo :

Good catch.

Customer :

ok, seems like it is working! I will put a repayment date of today in and check tomorrow to see if it worked...

BeBoo :

You can put in yesterday and it should also show you a different value.

BeBoo :

Glad to hear this works for you.

Customer :

Excellent!