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rich47 rich47 is offline
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Default Change years to months in loan amortization template

Thanks Fred.

However, aside from the dates being incorrect, it doesn't allow a
number greater than 30 in the term section. If the loan's for 37
months, it won't accept it.

-Rich

Fred Smith wrote:
In truth, the template doesn't know what period length you are entering. So
enter the monthly data (ie, monthly interest rate and term in months), and say
you have 1 payment per year. That way the template will properly calculate your,
for example, 37 payments.

The only problem is the payment date will be wrong, but it's not too hard to
change after unprotecting the sheet.