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Percentage formula not calculating correctly
I'm having a problem with getting a formula field to calculate the correct percentage. I have 3 fields Cost (currency field) Number of Months(Number Field) Retainer(Percent Field)
I'm trying to create a formula that shows the results of
Cost__c * Number_Of_Months__c - Retainer__c
But when i view the Total__c field, My formula is only reducing the amount by the number I enter into the retainer field.
So I enter 1,000 into the cost field and 5 in the number of months field and 5 percent in the retainer field my return value is $4,999.95 not 4,750. Can any one help me with this formula?
I'm trying to create a formula that shows the results of
Cost__c * Number_Of_Months__c - Retainer__c
But when i view the Total__c field, My formula is only reducing the amount by the number I enter into the retainer field.
So I enter 1,000 into the cost field and 5 in the number of months field and 5 percent in the retainer field my return value is $4,999.95 not 4,750. Can any one help me with this formula?
(Cost__c * Number_Of_Months__c) - ((Cost__c * Number_Of_Months__c) * Retainer__c)
All Answers
(Cost__c * Number_Of_Months__c) - ((Cost__c * Number_Of_Months__c) * Retainer__c)
Thank you for helping me. This formula seems to be calculating correctly. Can you explain to me why this formula works plese?
In your formula missing the primary value for percentage calculation.
Here is output for your formula.
Cost__c * Number_Of_Months__c - Retainer__c
Cost__c * Number_Of_Months__c = 1000 * 5 = 5000
Retainer__c = 5% (5/100 = .05)
so combine all 5000 - 0.05 = 4,999.95