Round numbers up or down to the nearest quarter in Excel

Subscriber Peter Scott asks ‘Is there a way of rounding a number up or down to the nearest .25?’  Peter is using a spreadsheet to calculate monetary amounts and for simplicity he wants the final numbers to all be payable in quarters.

Excel’s MROUND function does exactly this, rounding up or down to the number you specify.  It takes two parameters: the first is the number or a calculation whose result you want to round and the second is the multiple to which you want to round.  So in Peter’s example the second parameter would be .25.

Of course, you can use any number in the second parameter; a 5 would round to the nearest $5.

Any questions, please let me know.