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Calulate interest for a loan as payments are received
I am selling a home on contract for $132,900 with monthly payments of $1115
paid at 8% interest over 20 years. Start Date May 1, 2007. First payment due June 1, 2007. Balloon payment due June 1, 2008. I need to create a spreadsheet that will track the payments and calculate the intrerest and credit the payment based on the date that I receive the payment. The payment will be credited to the interest first and then principal. Can anybody help me? |
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