Home |
Search |
Today's Posts |
#1
Posted to microsoft.public.excel.newusers
|
|||
|
|||
loan amortization
I have downloaded a loan amortization template which allows for extra
payments, but only regular extra payments and the same payment amount each time for the life of the loan. I need a template (or god forbid a formula) that allows me to put in payments as they are made, put in skipped payments, calculates interest daily, and one which I can vary the interest rate. I know I would be pushing my luck, but any chance of adding a function which calculates all extra interest payments (for example if I needed to outline overdue payments seperate to overdue interest charges). I am not familiar with formulas (not stupid just inexperienced with excel) so please don't use any excel jargon to explain your answer if it is at all possible. Many thanks |
#2
Posted to microsoft.public.excel.newusers
|
|||
|
|||
loan amortization
Lizzie,
Open a new sheet, and in cells A1:F1, enter the following headers: A1: Date B1: Loan Amount C1: Interest Rate D1: Interest E1: Payment F1: Penalty Enter in: A2: starting date of loan B2: starting amount of loan C2: Annual percentage rate, entered as a percent D2: the formula =IPMT(C2/365,1,1,-B2) E2: leave blank F2: leave blank Enter in: A3: =A2+1 B3: =B2+D2-E2+F2 C3: =C2 D3: =IPMT(C3/365,1,1,-B3) E3: leave blank F3: leave blank Copy A3:D3 down as far as you need: 365 rows for one year. Enter any payments into column E on the date that they are made, and any penalty in column F on the day that they are assessed. If your interest rate changes, simply type the new rate as a percent into column C on the date row that the change takes affect. That should give you a good start on your problem. HTH, Bernie MS Excel MVP "Lizzie" wrote in message ... I have downloaded a loan amortization template which allows for extra payments, but only regular extra payments and the same payment amount each time for the life of the loan. I need a template (or god forbid a formula) that allows me to put in payments as they are made, put in skipped payments, calculates interest daily, and one which I can vary the interest rate. I know I would be pushing my luck, but any chance of adding a function which calculates all extra interest payments (for example if I needed to outline overdue payments seperate to overdue interest charges). I am not familiar with formulas (not stupid just inexperienced with excel) so please don't use any excel jargon to explain your answer if it is at all possible. Many thanks |
#3
Posted to microsoft.public.excel.newusers
|
|||
|
|||
loan amortization
Many thanks Bernie - I will give it all a go. Thank you :)
"Bernie Deitrick" wrote: Lizzie, Open a new sheet, and in cells A1:F1, enter the following headers: A1: Date B1: Loan Amount C1: Interest Rate D1: Interest E1: Payment F1: Penalty Enter in: A2: starting date of loan B2: starting amount of loan C2: Annual percentage rate, entered as a percent D2: the formula =IPMT(C2/365,1,1,-B2) E2: leave blank F2: leave blank Enter in: A3: =A2+1 B3: =B2+D2-E2+F2 C3: =C2 D3: =IPMT(C3/365,1,1,-B3) E3: leave blank F3: leave blank Copy A3:D3 down as far as you need: 365 rows for one year. Enter any payments into column E on the date that they are made, and any penalty in column F on the day that they are assessed. If your interest rate changes, simply type the new rate as a percent into column C on the date row that the change takes affect. That should give you a good start on your problem. HTH, Bernie MS Excel MVP "Lizzie" wrote in message ... I have downloaded a loan amortization template which allows for extra payments, but only regular extra payments and the same payment amount each time for the life of the loan. I need a template (or god forbid a formula) that allows me to put in payments as they are made, put in skipped payments, calculates interest daily, and one which I can vary the interest rate. I know I would be pushing my luck, but any chance of adding a function which calculates all extra interest payments (for example if I needed to outline overdue payments seperate to overdue interest charges). I am not familiar with formulas (not stupid just inexperienced with excel) so please don't use any excel jargon to explain your answer if it is at all possible. Many thanks |
Reply |
Thread Tools | Search this Thread |
Display Modes | |
|
|
Similar Threads | ||||
Thread | Forum | |||
loan amortization schedule | Excel Discussion (Misc queries) | |||
Loan amortization | Excel Worksheet Functions | |||
Variable rate loan amortization template | Excel Discussion (Misc queries) | |||
Variable rate loan amortization template | Excel Discussion (Misc queries) | |||
Loan Amortization Template in Excel | Excel Worksheet Functions |