Calculate Miles Needed

Robby19

Board Regular
Joined
Mar 19, 2018
Messages
227
Good day,

I am driving myself crazy with trying to figure this out. Please save me!

I need a formula that will tell me how many miles are needed to be driven annually, based off of a Cents Per Mile and Driver Salary. Need help figuring out the "###" parts.

Web example can be found here. Basically I am re-creating this in Excel and changing it to my specifications. However this functionality will help in the long run with estimations.
http://www.thetruckersplace.com/OwnerWrkSheet.aspx

Example;
[TABLE="width: 500"]
<TBODY>[TR]
[TD][/TD]
[TD]Annual Costs[/TD]
[TD]Monthly Costs[/TD]
[TD]Cents Per Mile[/TD]
[/TR]
[TR]
[TD]Actual Cost of Operation[/TD]
[TD][/TD]
[TD][/TD]
[TD]1.57[/TD]
[/TR]
[TR]
[TD]Drivers Income[/TD]
[TD]$50,000[/TD]
[TD]=B3/12 ($4,166.67)[/TD]
[TD]=B3/Miles Needed (###)[/TD]
[/TR]
[TR]
[TD][/TD]
[TD][/TD]
[TD]Miles Needed:[/TD]
[TD]###[/TD]
[/TR]
</TBODY>[/TABLE]
 

Excel Facts

How to calculate loan payments in Excel?
Use the PMT function: =PMT(5%/12,60,-25000) is for a $25,000 loan, 5% annual interest, 60 month loan.
I think I figured it out.

Code:
=SUM(Actual Cost of Operation,Drivers Income)*Cents Per Mile
Code:
=SUM(B2,B3)*D2
 
Last edited:
Upvote 0

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