Use seven columns as follows:

A: Month
B: Starting Balance
C: Withdrawals
D: Payments
E: Interest Rate
F: Interest Charged
G: Closing Balance

Using a column, rather than one cell, for interest rate allows you to handle
the situation where the rate changes, which typically happens with LOCs when
the prime rate changes. The formulas a

A2: Enter starting date, format as mmm-yy
B2: Enter opening balance
C2: Enter withdrawals for the month
D2: Enter any payments you made in the month
E2: Enter current rate charged
F2: =b2*e2/12
G2: =(b2+c2-d2+f2)
A3: = date(year(a2),month(a2)+1,day(a2))
B3: =g2
E3: =e2
F3,G3: copy from row 2

Copy down as far as you want.

As requested, this is not perfectly accurate, because it doesn't account for
which day in the month you make the payments or withdrawals. But it should
be close enough.

Regards,
Fred.


"Titanium" wrote in message
...
I know this may be a bit of a 'big one' but, I really need a calculator
that
will allow me to have a fixed interest rate, and then allow me to enter
payments or withdrawls to determine the current balance of the line of
credit. Anyone up for making such a beast for me? I am just horrendus at
loans and that sort of thing.
I don't know if for example withdrawing money at mid month affects the
actual interest rate or not, or paying late, but frankly i'm not worried
about _that much_ accuracy. Just the calculations.

I was thinking A2 would be the interest rate: 10.9%, A5 could be the start
of the dates, B6 could be the first withdrawl from the line of credit. C6
would be blank? as not one month has past but B7 would be the payment
made,
or withdrawl again, C7 would be the current full amount due with interest
and
so on.

Anyone up for this? I really just need the formula to put in the C column.
:)
I could really use your assistance on this.

Please and thank you? :) *SMiLe*