I need help with a formula in excel to prorate?

Question

I need to prorate $53.09 from 2/16 to 2/28. Does anyone know how to do this calculation?

Answer 1

It depends on what the starting interval was... and how you want to do it. Was that for a month? Do you want just business days? all days?

Answer 2

I assume you mean that $53.09 was the charge for the entire month (of february?). If so, then the 16th through the 28th, inclusive, represents 13 days out of 28 days.

13/28ths of 53.09 is ~$24.65

But is the month is question is a month different than Feb (say, your billing cycle started on the 16th and runs for 30/31 days) you would have to adjust your denominator resulting in a slightly lower quotient.

Answer 3

try http://rodericke.com/iris