Is anyone a MS Excel expert?

[PrimeCommercial]

Trying to find out how to do a formula for a spread sheet.

You have 2 bank accounts with the balances below

B1 - $100,000
B2 - $200,000

I want to draw down from B1 a certain amount $X every instance until B1 balance is zero and then start drawing down B2.
The point at which the formula changes over from B1 to B2 needs to be able to draw down both at once if needed.
ie B1 has been drawn down until there's $10 left, in this instance say $X = $20, so we're drawing down $20 every time, at the instance that it changes form B1 to B2 I want it to withdraw what ever is left in B1 and take what ever the difference is from B2...In this case the last $10 from B1 and the another $10 from B2

Clear as mud.

I also want to be able to show interest growth in both accounts. So if B1 was paying 3% interest while being drawn down and B2 was paying 4%. I should be able to sort that one out myself if I can get the first bit sorted.

Anyone know how to do it?

Cheers

 

[Belu]

Here is a quick example of one way to do it.

it isnt my best work by far as i had to use Open Office :S but should demonstrate what you want

you can move other things to the input page like the opening date and balances and add in the interest rates etc.

Hope it helps.

Ben

 

[jaycee]

that's good work Belu. might have to keep that formula ! I can read what it's saying, but I couldn't write it myself... cool

 

[Belu]

Cheers, I mainly work in excel @ work so that one is fine.

Sometimes excel can be tricky to work with but it will do 95% of what is needed - otherwise it is off to access.

 

[PrimeCommercial]

Here is a quick example of one way to do it.

it isnt my best work by far as i had to use Open Office :S but should demonstrate what you want

you can move other things to the input page like the opening date and balances and add in the interest rates etc.

Hope it helps.

Ben

That's exactly what I was after.

When I'm finished my spread sheet, It'll draw down funds from a super fund (B1) then start drawing down a LOC (B2).

Thank you very much Ben

 

[Belu]

all good