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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? |
#2
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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. best wishes -- Bernard V Liengme www.stfx.ca/people/bliengme remove caps from email "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? |
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