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Excel Templates for Compound Interest Loans
Does anyone make an Excel template for compound interest loans that will
automatically expand out the lines for additional payments, and which will let you for a given payment specify an arbitrary amount of the original principal you are repaying? Every compound interest application I have found so far calculates the next periods compound interest by adding the last period's interest into the loan amount. That's fine for purposes of calculating the next interest payment, but it's bad from the standpoint of keeping track of the original principal. Repayment of original principal is not taxable, whereas payment of interest due is taxable, so ideally you would like to have fine tuned control on how much of each payment is repaying principal. Does any Excel template offer this flexibility? -- W |
#2
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Excel Templates for Compound Interest Loans
the Prioncipal is the Payment - Interest. See below
B1 is interest 0.05376 Date Starting in A3 Date Balance Principal Interest Payment Principal 1/1/2009 188,876.59 189724.4338 847.84 1170.34 322.50 1/1/2009 188,554.09 189400.49 846.40 1170.34 323.94 The principal in B4 is not a formula 188,876.59 formulas in row 5 Balance =B4 - F4 Principal - Balance Principal =B5*(1+($B$1/360))^30 The pricipal plus interest for current month Interest =C5-B5 Principal - Balance from beginning of month Payment =IF(C51170.34,1170.34,C5) The payment is f11730.34 based on the original loan. the formula is used for the last payment which may not be a full payment. I entered a different payment is I pay more the the agree amount. Principal =E5-D5 Payment - Interest "W" wrote: Does anyone make an Excel template for compound interest loans that will automatically expand out the lines for additional payments, and which will let you for a given payment specify an arbitrary amount of the original principal you are repaying? Every compound interest application I have found so far calculates the next periods compound interest by adding the last period's interest into the loan amount. That's fine for purposes of calculating the next interest payment, but it's bad from the standpoint of keeping track of the original principal. Repayment of original principal is not taxable, whereas payment of interest due is taxable, so ideally you would like to have fine tuned control on how much of each payment is repaying principal. Does any Excel template offer this flexibility? -- W |
#3
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Excel Templates for Compound Interest Loans
Hi W, See the template below, it seems like it could meet your needs. 'SpreadsheetZONE - Free Excel Template Repository' (http://www.spreadsheetzone.com/templateview.aspx?i=21) W;515794 Wrote: Does anyone make an Excel A for compound interest loans that will A expand out the lines for additional payments, and which will let you for a given payment specify an arbitrary amount of the original principal you are repaying? Every compound interest application I have found so far calculates the next periods compound interest by adding the last period's interest into the loan amount. That's fine for purposes of calculating the next interest payment, but it's bad from the standpoint of keeping track of the original principal. Repayment of original principal is not taxable, whereas payment of interest due is taxable, so ideally you would like to have fine tuned control on how much of each payment is repaying principal. Does any Excel template offer this flexibility? -- W -- suzzy ------------------------------------------------------------------------ suzzy's Profile: http://www.thecodecage.com/forumz/member.php?userid=435 View this thread: http://www.thecodecage.com/forumz/sh...d.php?t=141600 |
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