monthly ppmt calculated in 1 cell for year
 

I'm trying to calculate *annual* principal portion of a *monthly* loan
payments using only one cell. For example, the cell for year one would
be the sum of ppmt(monthly_interest_rate,i,60,loan_amount) where i is
1-12.

Any thoughts on how this can be done? Is there some sort of loop
function in excel?


--
name
------------------------------------------------------------------------
name's Profile: http://www.excelforum.com/member.php...o&userid=34115
View this thread: http://www.excelforum.com/showthread...hreadid=557300

monthly ppmt calculated in 1 cell for year
 

Try the cumulative principle function.

=CUMPRINC(6%/12,60,10000,1,12,1)


This is a $10000 loan with a 6% interest paid monthly for 60 months. 1
and 12 represent the first period and the last one in the formula means
that the payments are made at the beginning of the periods. If
payments are made at the end of the period use 0.

HTH

Steve


--
SteveG
------------------------------------------------------------------------
SteveG's Profile: http://www.excelforum.com/member.php...fo&userid=7571
View this thread: http://www.excelforum.com/showthread...hreadid=557300

monthly ppmt calculated in 1 cell for year
 

Perfect, thanks!


--
name
------------------------------------------------------------------------
name's Profile: http://www.excelforum.com/member.php...o&userid=34115
View this thread: http://www.excelforum.com/showthread...hreadid=557300