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#1
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Loan Amortization
Is there a template for a loan with a varying interest rate? I have a loan
that changed rates after the first 3 years and am trying to find out what i have paid and what i need to be paying? Any help would be great. thanks |
#2
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Loan Amortization
ok.. maybe this will work:
=PPMT(first interest rate, number of payments made in 1st 3 years, total number of payments needed to complete the entire loan, starting value of loan at inception) should get what you paid on the principal Then, subtract this amount from your first principal, and use the same formula, with the 2nd interest rate, number of payments until you are done paying the loan goes in the 2nd and third spots, then value as calculated above. Hope that was what you needed. "rbolger3" wrote: Is there a template for a loan with a varying interest rate? I have a loan that changed rates after the first 3 years and am trying to find out what i have paid and what i need to be paying? Any help would be great. thanks |
#3
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Loan Amortization
Oh, I should mention, the value you get will be negative, as you are debiting
this payment from your checkbook. :-) "rbolger3" wrote: Is there a template for a loan with a varying interest rate? I have a loan that changed rates after the first 3 years and am trying to find out what i have paid and what i need to be paying? Any help would be great. thanks |
#4
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Loan Amortization
Thank you very much. I really appreciate it and will let you know how it goes. "Sean Timmons" wrote: Oh, I should mention, the value you get will be negative, as you are debiting this payment from your checkbook. :-) "rbolger3" wrote: Is there a template for a loan with a varying interest rate? I have a loan that changed rates after the first 3 years and am trying to find out what i have paid and what i need to be paying? Any help would be great. thanks |
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