Is there a way to sum the number of years passed (as a whole number, rounded down) from a listed date to present? I’m using this for an asset register. There are 4 important columns:
A) date of purchase
B) original purchase value
C) annual depreciation (as a %)
D) current value
I’m looking to write a formula for current value (D) that will multiply the annual deprectiation % © by the number of years that has passed since the date of purchase (years since A), then multiply that by the original purchase value (B).
For example, if 3 years have passed since purchase date, the original price purchase value was $1,000, and the depreciation is 16.67%, it would be ((3*.1667)*1,000), returning a current value of $500.10. How do I get that 3 to caclucate automatically in a formula?