fortnightly payments problem in Excel Amortization tables?
 

I am using the loan calculator (Amortization tables) in Excel (2002).
In inputting say a 30 year loan with fortnightly payments - i.e. 26 payments
per year as opposed to 12 monthly payments, the loan summary box at the top
shows scheduled number of payments as 780 - which is correct, but then shows
actual number of payments as 361. Why is this so?
In scrolling down the worksheet, at payment number 360, the calcs just stop
and there is a massive balance outstanding. What gives? Why doesn't it flow
through until a zero balance is reached, as it does if there a re 12 monthly
payments?

Any help would be appreciated.

fortnightly payments problem in Excel Amortization tables?
 

Perhaps you ought to look at the formulae in the relevant cells?
--
David Biddulph

"tonyboy" wrote in message
...
I am using the loan calculator (Amortization tables) in Excel (2002).
In inputting say a 30 year loan with fortnightly payments - i.e. 26
payments
per year as opposed to 12 monthly payments, the loan summary box at the
top
shows scheduled number of payments as 780 - which is correct, but then
shows
actual number of payments as 361. Why is this so?
In scrolling down the worksheet, at payment number 360, the calcs just
stop
and there is a massive balance outstanding. What gives? Why doesn't it
flow
through until a zero balance is reached, as it does if there a re 12
monthly
payments?

Any help would be appreciated.

fortnightly payments problem in Excel Amortization tables?
 

I suspect that the template was set up to handle a 30-year mortgage with monthly
payments, hence it stops after period 360. What happens if you just extend the
table yourself? (ie, highlight the last row, grab the fill handle and copy down)

--
Regards,
Fred


"tonyboy" wrote in message
...
I am using the loan calculator (Amortization tables) in Excel (2002).
In inputting say a 30 year loan with fortnightly payments - i.e. 26 payments
per year as opposed to 12 monthly payments, the loan summary box at the top
shows scheduled number of payments as 780 - which is correct, but then shows
actual number of payments as 361. Why is this so?
In scrolling down the worksheet, at payment number 360, the calcs just stop
and there is a massive balance outstanding. What gives? Why doesn't it flow
through until a zero balance is reached, as it does if there a re 12 monthly
payments?

Any help would be appreciated.