I am constructing loan amortisation tables based on the following:-
(1) Interest payments are charged on the last day of the month but if this is on the weekend payment is made on the first business day thereafter.
(2)Principal payments are made monthly on the anniversy of the loan uplift date which I want to work on the same basis.
After a lot of fiddling around I have constructed a formula for the interest payment date by using a variation of the EOMONTH function but the monthly principal repayment has got me beaten. viz - the only formula that I can use computes to the monthly anniversy date regardless of whether is is a weekend or not. I am sure that there is a simple way of doing this without a macro - or is there?
Tom Erikson