Need formula for cumulative interest with additional monthly princ
I am trying to determine the amount of interest paid over a period of time on
a loan. I know how to use the cumipmt formula but I would like to be able to add in extra monthly payments. For example, say my mortgage payment is $500 per month and I have committed myself to adding an extra $100 each month to pay it off faster. How would I determine the total interest paid from the start of the loan to a certain period. |
All times are GMT +1. The time now is 11:41 AM. |
Powered by vBulletin® Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
ExcelBanter.com