This won't be particularly easy.

I would attack it by creating a table for each day of your mortgage. Column
headings would be Date, Opening Balance, Payment, Accrued Interest, Interest
Charged, Closing Balance.

Opening Balance is just yesterday's closing balance, except on line 1 it's the
amount of the mortgage.
Payment is whatever payment is made that day
Accrued interest is: OpeningBalance * IntRate / 365
Interest Charged is: if day(openingbalance)=1, sum(accrued interest for previous
month)
Closing Balance is: OpeningBalance - Payment + Interest Charged

The only problem is that a 30 year mortgage is going to take more than 10,000
rows, but at least it will calculate properly.

--
Regards,
Fred


"Tywardreath" wrote in message
...
I am trying to create an amortization schedule that includes the following
principles:

* interest calculated daily
* interest "charged" on the first working day of the following month
* payments made bi-weekly
* option for additional payments; both lump sum, and regular small amounts

Is someone able to offer me some assistance?

Many thanks, Ty