Cant make it work
 

I really need help with EXCEL. Here is what I want to do!

I want it set up so I can have my credit card balances in one column,
the APR in column 2, column 3 figure out minimun payment, column 4 is
what i actually pay, and column 5 figure my new balance.

Now my question is one is this possible? and 2 how do I go about making
this happen?


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Bama_Buc
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Cant make it work
 

A2 = 1000.00
B2 = 10% (this is annual interest rate - not exactly the APR)
C2 = (A2 * (B2/12))
D2 = A2 - C2

Remember C2 only gives Interest due
if Minimum monthly payment is 10 then formula should change to this
C2 = IF( (A2*(B2/12))<10, 10, (A2*(B2/12)) )

You may need to have a a column for the Minimum payment, which may
be different for different cards.


Steve


On Sat, 12 Aug 2006 11:55:20 +0100, Bama_Buc
wrote:


I really need help with EXCEL. Here is what I want to do!

I want it set up so I can have my credit card balances in one column,
the APR in column 2, column 3 figure out minimun payment, column 4 is
what i actually pay, and column 5 figure my new balance.

Now my question is one is this possible? and 2 how do I go about making
this happen?





--
Steve (3)

Cant make it work
 

This is standard laon calculations. Search the net for loan calculator
spreadhseets. Bet you can find one to download and havel all you need in it.

"SteveW" wrote:


A2 = 1000.00
B2 = 10% (this is annual interest rate - not exactly the APR)
C2 = (A2 * (B2/12))
D2 = A2 - C2

Remember C2 only gives Interest due
if Minimum monthly payment is 10 then formula should change to this
C2 = IF( (A2*(B2/12))<10, 10, (A2*(B2/12)) )

You may need to have a a column for the Minimum payment, which may
be different for different cards.


Steve


On Sat, 12 Aug 2006 11:55:20 +0100, Bama_Buc
wrote:


I really need help with EXCEL. Here is what I want to do!

I want it set up so I can have my credit card balances in one column,
the APR in column 2, column 3 figure out minimun payment, column 4 is
what i actually pay, and column 5 figure my new balance.

Now my question is one is this possible? and 2 how do I go about making
this happen?





--
Steve (3)