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Credit Card Calculation
Hi
I was wondering if anyone could help me with a minimum payment calculation on my spreadsheet for my Credit card I have the following Cells Credit Limit (L2) £3500 Credit Card Amount Owed (L4) £3200 Credit Card APR (L6) 17.9% Minimum Amount (L8) 2% And then I have a cell (L10) Minimum Payment and it is in this Cell I want it to say what my minimum payment will be if you could help with this that would be great Regards Joel -- N/A |
#2
Posted to microsoft.public.excel.misc
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Credit Card Calculation
Hi,
Not sure if this is it but try this: =ROUNDDOWN((ROUND((L6/12)*L4,2)+L4)*L8,0)-ROUND((L6/12)*L4,2) I don't know anything about finances but from what I was read on the net I got this: 3200 *(17.9%/12) =47.73 (3200+(17.9%/12))*3%=64 ...( 64.9546 rounded down) minimum payment: 64-47.73=16.27 HTH Jean-Guy "Joel" wrote: Hi I was wondering if anyone could help me with a minimum payment calculation on my spreadsheet for my Credit card I have the following Cells Credit Limit (L2) £3500 Credit Card Amount Owed (L4) £3200 Credit Card APR (L6) 17.9% Minimum Amount (L8) 2% And then I have a cell (L10) Minimum Payment and it is in this Cell I want it to say what my minimum payment will be if you could help with this that would be great Regards Joel -- N/A |
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