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Mortgage amortization Template
I have been using a mortgage amort. template that I
believe came with the excel software. May have been from office 97 or something I'm not sure. Anyway, it works great except that when I enter additional principal payments(as a negative number), everything seems to calculate correctly except the summary field called "total paid". I think this number should equal the initial amount borrowed plus the total interest paid. And it does calculate correctly in cases where additional principal payments are not entered, but when an additional principal payment is entered it is throwing it off. I was wondering if anyone is familiar with the template, and if not if I could get some help adding the additional payment into the formula in the summary "total paid" field. Thanks for any help. Scott |
#3
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Mortgage amortization Template
-----Original Message----- You need to subtract the extra payment along with the principal payment before calculating the next month. Lots of ways to do that. Easiest would probably be with an additional column for extra payments and then adjust the formula for that col. -- Don Guillett SalesAid Software "Scott" wrote in message ... I have been using a mortgage amort. template that I believe came with the excel software. May have been from office 97 or something I'm not sure. Anyway, it works great except that when I enter additional principal payments(as a negative number), everything seems to calculate correctly except the summary field called "total paid". I think this number should equal the initial amount borrowed plus the total interest paid. And it does calculate correctly in cases where additional principal payments are not entered, but when an additional principal payment is entered it is throwing it off. I was wondering if anyone is familiar with the template, and if not if I could get some help adding the additional payment into the formula in the summary "total paid" field. Thanks for any help. Scott . Don. Would you be willing to look at this if I send it to you? |
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Mortgage amortization Template
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