Calculating rental fees in Excel

I use Excel to keep track of rental items for my job. An item rents for, say, \$1000 for five days; and then, from the sixth day on, the fee is \$100 per day. I can't figure out a formula to count the five days with its fixed fee and then add increments of \$100 for each day thereafter. - Gary RisingerYou can often solve a problem like this by dividing it into steps. The worksheet illustrated has two sections, labelled Input (rows 2 to 5) and Calculations (rows 8 to 10). The Input section contains values only, while the Calculations section contains formulas. In all cases, the same solution works in Lotus 1-2-3 if you substitute @ for the equal sign.

First, figure extra rental days. Cell B8's formula is =IF(B5>B3,B5-B3,0). It says: if the total number of rental days exceeds the number of days in the base rental period, subtract the days in the base period from the total rental days; otherwise, return 0 (no extra days).

The formula in cell B9 is =B8*B4. It simply multiplies the number of additional days calculated in B8 by the additional-day fee in B4. The "bottom line" formula in cell B1, =B2+B9, adds the base rental fee to the extra-day fee.

The worksheet is using three formulas, which you can reduce to one by replacing cell references with formula text. For example, the final formula (in B10) contains a reference to cell B9. Copy the formula's text (excluding the initial equal sign) from cell B9 to cell B10. The formula in B10 will be =B2+B8*B4. Now the formula refers to cell B8 (which also holds a formula), so you can replace that reference with a copy of cell B8's formula text: =B2+(IF(B5>B3,B5-B3,0)*B4).

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

PC World

Brand Post

Simple Tech Gifts That Won’t Break the Bank

Need to buy a gift for somebody who loves technology but you can’t afford the big ticket items?

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now