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.
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