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#1
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loan/lease repayment using IPMT/CUMIPMT
I have been trying to create a monthly loan/lease calculation where there is
a residual at the end of a 5 year term. I am happy with each month (using IPMT), but when tried to use CUMIPMT do make a compact form rather than 60 lines, the term involving residual (ie future value) is missing and the total calc does not equal the sum of each month. Any leads? |
#2
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loan/lease repayment using IPMT/CUMIPMT
CUMIPMT assumes a fully amortizing loan.
if there is a residual value you need to add an interest only calculation on the residual to the CUMIPMT calculation "zardozoz" wrote: I have been trying to create a monthly loan/lease calculation where there is a residual at the end of a 5 year term. I am happy with each month (using IPMT), but when tried to use CUMIPMT do make a compact form rather than 60 lines, the term involving residual (ie future value) is missing and the total calc does not equal the sum of each month. Any leads? |
#3
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loan/lease repayment using IPMT/CUMIPMT
It all seesm so obvious once somelse can put you on the right track and
explain it properly. Take the cumipmt calc for the amount excluding residual and add the reisdual int calc as well. But why does the cumipmt assume a full amortization, whereas ipmt doesn't? Thanks "Vacation's Over" wrote: CUMIPMT assumes a fully amortizing loan. if there is a residual value you need to add an interest only calculation on the residual to the CUMIPMT calculation "zardozoz" wrote: I have been trying to create a monthly loan/lease calculation where there is a residual at the end of a 5 year term. I am happy with each month (using IPMT), but when tried to use CUMIPMT do make a compact form rather than 60 lines, the term involving residual (ie future value) is missing and the total calc does not equal the sum of each month. Any leads? |
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