Remember Me?

#1
 Junior Member Posts: 27
interest due on capital balance

I have lent money for a period of 36 months where the borrower pays 1/36th of the original loan back each month together with interest, at the monthly rate, on the remaining loan balance.

I would like to have a column in my spread sheet which shows the interest due at the end of the current month and which automatically shows the reduced interest due as time goes on.

For example, for a loan of £100 at 10%/year interest, taken out on November 1st, would, during November, the cell would show that on December 1st interest of (£100 x 10%)/12 = £0.83 is due. Come December 1st and until December 31st the interest would be shown as (£90 x 10%0/12 = £0.75 and so on.

Is there a formula which would return this variable interest?
#2
 Junior Member Posts: 2

 Thread Tools Search this Thread Search this Thread: Advanced Search Display Modes Linear Mode

 Posting Rules Smilies are On [IMG] code is On HTML code is OffTrackbacks are On Pingbacks are On Refbacks are On

 Similar Threads Thread Thread Starter Forum Replies Last Post dowwcoww Setting up and Configuration of Excel 1 May 30th 09 08:48 PM JimS Excel Discussion (Misc queries) 0 May 10th 06 07:45 AM NinasNumber Excel Worksheet Functions 1 January 9th 06 07:31 PM mattguerilla Excel Discussion (Misc queries) 1 December 28th 05 02:50 PM slaw Excel Programming 6 December 16th 03 12:13 AM

All times are GMT +1. The time now is 03:48 AM.