Please Note: This article is written for users of the following Microsoft Excel versions: 97, 2000, 2002, and 2003. If you are using a later version (Excel 2007 or later), this tip may not work for you. For a version of this tip written specifically for later versions of Excel, click here: Displaying a Number as Years and Months.
by Allen Wyatt
(last updated November 25, 2015)
Robert has a formula that determines the payback period for certain investments. For instance, with $20,000 investment in energy-savings equipment and an annual energy savings of $3000, the simplistic payback period to recoup the investment is 6.6667 years. Robert wonders how he can make this payback period (6.6667) show as years and months instead of as a decimal number.
This can be done by simply multiplying the portion of the answer at the right of the decimal point by 12, which results in a number of months. Here is one way to get the desired result, assuming that the payback result is in cell A1:
=INT(A1) & " years / " & INT((A1-INT(A1))*12) & " months"
With the value 6.6667 in cell A1, the formula would return "6 years / 8 months".
ExcelTips is your source for cost-effective Microsoft Excel training. This tip (6960) applies to Microsoft Excel 97, 2000, 2002, and 2003. You can find a version of this tip for the ribbon interface of Excel (Excel 2007 and later) here: Displaying a Number as Years and Months.
Solve Real Business Problems Master business modeling and analysis techniques with Excel and transform data into bottom-line results. This hands-on, scenario-focused guide shows you how to use the latest Excel tools to integrate data from multiple tables. Check out Microsoft Excel 2013 Data Analysis and Business Modeling today!
Different businesses have different ways to calculate elapsed time for billing purposes. Figuring out a formula that reflects ...Discover More
Many businesses need to know when the last business day of the month occurs. This tip discusses several ways you can ...Discover More
When working with dates, you may need to figure out all the dates on which weeks end in a given year. There are several ...Discover More
FREE SERVICE: Get tips like this every week in ExcelTips, a free productivity newsletter. Enter your address and click "Subscribe."
Got a version of Excel that uses the menu interface (Excel 97, Excel 2000, Excel 2002, or Excel 2003)? This site is for you! If you use a later version of Excel, visit our ExcelTips site focusing on the ribbon interface.