Home |
Search |
Today's Posts |
#1
Posted to microsoft.public.excel.worksheet.functions
|
|||
|
|||
Number of payments remaining
I need a formula to calculate the number of payments remaining on a loan
based on constant interest, constant payments and a known balance. I am trying to use the NPER function but it doesn't give the right answer if I change the interest rate. How many payments do I have left on $16,000, with 5% interest, and $250 a month payment? |
#2
Posted to microsoft.public.excel.worksheet.functions
|
|||
|
|||
Number of payments remaining
On Thu, 27 Sep 2007 12:29:01 -0700, Erik
wrote: I need a formula to calculate the number of payments remaining on a loan based on constant interest, constant payments and a known balance. I am trying to use the NPER function but it doesn't give the right answer if I change the interest rate. How many payments do I have left on $16,000, with 5% interest, and $250 a month payment? 74.59215279 Or 74 Payments plus a balloon of about $147.55 Formula: =NPER(0.05/12,250,-16000) --ron |
#3
Posted to microsoft.public.excel.worksheet.functions
|
|||
|
|||
Number of payments remaining
Thanks, that worked great, I wasn't putting the negative infront of the
balance number which gave me a differnt number and changing it to a negative after the fact messed it up worse. Thanks for your help, worked great. "Ron Rosenfeld" wrote: On Thu, 27 Sep 2007 12:29:01 -0700, Erik wrote: I need a formula to calculate the number of payments remaining on a loan based on constant interest, constant payments and a known balance. I am trying to use the NPER function but it doesn't give the right answer if I change the interest rate. How many payments do I have left on $16,000, with 5% interest, and $250 a month payment? 74.59215279 Or 74 Payments plus a balloon of about $147.55 Formula: =NPER(0.05/12,250,-16000) --ron |
#4
Posted to microsoft.public.excel.worksheet.functions
|
|||
|
|||
Number of payments remaining
On Thu, 27 Sep 2007 13:36:01 -0700, Erik
wrote: Thanks, that worked great, I wasn't putting the negative infront of the balance number which gave me a differnt number and changing it to a negative after the fact messed it up worse. Thanks for your help, worked great. Changing it to a negative "after the fact" shouldn't have messed things up. I would have those values (250, 16000, 5%) in separate cells, and refer to them that way. But glad to help and thanks for the feedback. It is important with Excel's financial functions to use the signs appropriately. --ron |
#5
Posted to microsoft.public.excel.worksheet.functions
|
|||
|
|||
Number of payments remaining
I hope you're still here, because I needed help with the same equation.
However, I need to know how to get the dollar amount that is left on the loan. I need to keep a running total of the balance I owe on $9016.88. $261.08/mo. w/11.08333 mo. left @ 17.95% APR "Ron Rosenfeld" wrote: On Thu, 27 Sep 2007 12:29:01 -0700, Erik wrote: I need a formula to calculate the number of payments remaining on a loan based on constant interest, constant payments and a known balance. I am trying to use the NPER function but it doesn't give the right answer if I change the interest rate. How many payments do I have left on $16,000, with 5% interest, and $250 a month payment? 74.59215279 Or 74 Payments plus a balloon of about $147.55 Formula: =NPER(0.05/12,250,-16000) --ron |
Reply |
Thread Tools | Search this Thread |
Display Modes | |
|
|
Similar Threads | ||||
Thread | Forum | |||
Constant loan payments vs. constant payments of principal | Excel Worksheet Functions | |||
Deduct until last positive number remaining | Excel Discussion (Misc queries) | |||
Getting remaining entries | Excel Discussion (Misc queries) | |||
How do I forecast future payments by analyzing past payments? | Excel Worksheet Functions | |||
Points remaining formula | Excel Worksheet Functions |