I have downloaded a loan amortization template which allows for extra
payments, but only regular extra payments and the same payment amount each
time for the life of the loan.
I need a template (or god forbid a formula) that allows me to put in
payments as they are made, put in skipped payments, calculates interest
daily, and one which I can vary the interest rate. I know I would be pushing
my luck, but any chance of adding a function which calculates all extra
interest payments (for example if I needed to outline overdue payments
seperate to overdue interest charges). I am not familiar with formulas (not
stupid just inexperienced with excel) so please don't use any excel jargon to
explain your answer if it is at all possible. Many thanks