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#1
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complex amortization
Problem: 5 loan amounts, each different, with varying interest rates,
payments, and loan periods. The loan periods are epressed in decimals of a year, not full years. I need to determine the total amortization if, as the highest interest loan is paid off, the payment for that loan is applied to the next highest interest rate loan, continuing until the final loan is paid off. This boggles my mind! |
#2
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complex amortization
It won't be too hard to set up a spreadsheet for a specific situation. Setting
up a generalized sheet would be more difficult. First, ignore the calculation on the loan period. If you're doing an amortization table, you calculate the number of periods. An amortization table has four columns: Opening balance, Payment, Interest, Closing Balance. I would put your five loans in columns, eg A-C, D-G, H-K, etc. in order of highest to lowest rates. Copy down rows until the first loan is paid off. Then change the payment of the second loan in the next period. Continue until all loans are paid off. It will be a little tedious, but will get you the answer you are looking for. -- Regards, Fred "cfspahn24" wrote in message ... Problem: 5 loan amounts, each different, with varying interest rates, payments, and loan periods. The loan periods are epressed in decimals of a year, not full years. I need to determine the total amortization if, as the highest interest loan is paid off, the payment for that loan is applied to the next highest interest rate loan, continuing until the final loan is paid off. This boggles my mind! |
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