Calculate the number of payments remaining

Hi

I was wondering if there is an Excel formula that can calculate the number of payments remaining on a loan

For example if a loan had a maturity date of say 16/01/2024 (which means payments are due on the 16th of each month)

And we used todays date 4/11/2022

I have been using the DatedIF function but that is not quite accurate as it only totals complete months

I would be most grateful for any guidance that can be provided

Regards

Bruce

Answer
Answer

Hi,

Enter this formula in cell C2

=DATEDIF(IF(DAY(A2)<16,EDATE(A2,-1),EDATE(A2,1)),B2,"m")

Hope this helps.

Regards,

Ashish Mathur
www.ashishmathur.com
https://www.linkedin.com/in/excelenthusiasts/

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Last updated February 3, 2023 Views 812 Applies to: