How do set up a formula to subtract a number from an ongoing balance. I have a debt and I have an excel sheet set up to help me pay it off faster. Every month I make a payment and want to subtract. What’s the formula?
How Do You Set Up A Formula In Excel?
By WinPie Posted in: excel
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Assume you have set Payment Dates in Col A (A2-A25 typically) allowing initially 24 payments.
Payment amounts B2 – B25
Cell D5 insert Initial Debt
Cell D6 insert formula =SUM(B2:B25) – Total payments to date
Cell D7 insert formula =D5-D6 – outstanding debt
If you wish you can combine D6 and D7 as follows in Cell D7 insert =D5-SUM(B2:b25).
Hope this helps