Formula which splits principal & interest pmts on P&I Loan
 

I am creating a spreadsheet setting out loan repayments on a daily basis. I
need the formula that seperates the interest from the daily payments to allow
the principal reduction to occur?

Formula which splits principal & interest pmts on P&I Loan
 

Copied fro Excel Help:

PPMT Returns the payment on the principal for a given period for an
investment based on periodic, constant payments and a constant interest rate

IPMT Returns the interest payment for a given period for an investment based
on periodic, constant payments and a constant interest rate. For a more
complete description of the arguments in IPMT and for more information about
annuity functions, see PV.

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Bernard V Liengme
www.stfx.ca/people/bliengme
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"Dealmakerjc" wrote in message
...
I am creating a spreadsheet setting out loan repayments on a daily basis. I
need the formula that seperates the interest from the daily payments to
allow
the principal reduction to occur?