To Get The Exact Count Of Debits And Also The Date Of The Balance In The Savings Acct

Jan 18, 2009

how many debits can take place in my Savings Account if I provide the Current Balance and the No of Debits,Amount of Debits,Frequency of Each Debit.

Lets say, I have Rs 42978/- in my savings account at this moment and I have 2 different Debits taking place on different dates of the Month.

First Debit of Rs 750/- (12th of Month)

Second Debit of Rs 584/- ( 27th of Month)

I am also planning to add one more debit EMI (Equated Onthly Installments)for Rs 1127/- every month.

I need to know the No of Months I can go without paying my Savings Account as well as the Month and the year.

I have tried doing it the regular way but it becomes quite cumbersome, I am looking for help in terms of a better design or a Template as some single-cell (hopefully) formula which can incorporate the number of Debits,Amounts etc.

One very important thing is to also keep a track of the Balance not going below an "X" amount and that is Rs 1500/- as thats the Bank's Minimum Balance requirement..

The no of Installments are as mentioned below:
Debit--- Amount--- Start Month--- No of Installments

I Debit--- 750--- Jan-09--- 36
II Debit--- 584--- Feb-09--- 27
III Debit--- 1127--- Mar-09--- 60

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The data to be used will be:
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Period of years.

Example of Saving Regular Amount every year at Compound Interest
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Rate per Annum 6.00% A2
Period of Years 2.00 A3
£2,472.00

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Interest at end of first year 72.00
Balance at end of first year 1272.00
Payment at start of second year £1200.00
Balance at start of second year 2472.00
Interest at end of second year 148.32
Balance at end of second year £2620.32

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