calculate balance given varying payments?
 

I need to calculate the remaining balance on a loan given:
- fixed starting value
- fixed interest rate over the life of the loan
- size of payment can vary
- date of payment can vary (typically once/month, could be several in a
month, might be a month with no payments)

Basically given the starting balance and interest rate I just want to
record the payments as they come in.

Financial calculations (especially in Excel) aren't my specialty so any
help is appreciated.

calculate balance given varying payments?
 

Suppose cells A1:C5 look like this:

interest_rate: 0.05
date payment balance
1/1/2007 10000.00
1/28/2007 100 9936.16
2/20/2007 105 9861.75

The formula for cell C4 is =C3*(1+C$1)^(INT(A4-A3)/365)-B4
The formula for cell C5 is =C4*(1+C$1)^(INT(A5-A4)/365)-B5

Copy the formula for as many dates and payments as needed.

Hth,
Merjet