Explanation
This formula depends on theCEILING function, which rounds numbers up to a given multiple.
What this means is that all second Saturdays in the future are evenly divisible by 14.
The formula uses this fact to figure out 2nd Saturdays, then subtracts 1 to get the Friday previous.
Once CEILING returns a date, 8 days are subtracted to move back to the Friday previous.
Note: I ran into this formula asan answer on stack overflowby the awesome Barry Houdini.
CEILING works like theMROUND function, but CEILINGalways rounds up.
