| Tip taken from chapter 0 in the book Mr Excel On Excel |
See screen shot 1.
Formulas that do not appear in the figure:
Amortization schedule with a grace period
Amortization schedule for random payment
| scott slc, utah |
» mortgage paymentswhat is the formula used to calculate a mortgage payment that includes tax, insurance and any other payment included in my monthly payment? |
| charles wright Bhm, Alabama |
» dynamic amortization worksheetIs it possible to create an amortization spreadsheet that will update (estimate) the associated totals (i.e., prn bal,int paid, int due,etc..) as the payments are entered each month? |
| Jeff Fields Des Moines, IA |
» Amortization QuestionWhat would be the written formula to recalculate the number of payments in months if the interest rate was lowered but the payment stayed the same. |
| Shannon San Diego, CA |
» HELP!If I know principal, interest, and # years, how do I calculate total interest paid over the life of the loan considering monthly payments? |
| Bobby S. Kaufman Tex. |
» Amortization Sheet ?How do I make a amortization sheet for a personal loan to another party. |
| Alan Auckland, New Zealand |
» Reply: mortgage payments - scott from slc, utah wrote on April 26, 2003 9:35 PM ESTHi Scott,Don't know if you still need this answer, but anyway: If thee are other elements that principle and interest in the periodic payments, then you will need to eliminate them from the payment before applying it to your loan calculation. Just do that calculation separately in your model before getting into the loan calculation zone. Alan. |
| Alan Auckland, New Zealand |
» Reply: dynamic amortization worksheet - charles wright from Bhm, Alabama wrote on July 7, 2003 12:33 PM ESTHi Charles,Yes you can do this. Just set up your repayment schedule to refer to the brought forward balance each period (rather than calculate the brought forward balance by reference to the opening scenario). If you also include a cell for the 'current' interest rate and that is entered each period, you can also generalise for a floating rate calculation, and if you like, forecast foreward what the rates will be. That approach is also self-correcting if the borrower misses payments or short-pays a period, since it re-claculates based on actuals, not the original theoretical repayment schedule. You might also want to set up the calculation with extra periods past the original scheduled closure date. That way you can cope with someone who misses or short-pays and then continues with the original repayments, thus extending the period of the loan. Alan. |
| Alan Auckland, New Zealand |
» Reply: Amortization Question - Jeff Fields from Des Moines, IA wrote on July 24, 2003 6:54 PM ESTHi Des,It sounds like all you need is to use the NPER function which, "returns the number of periods for an investment based on periodic, constant payments and a constant interest rate." If the rate changes, just re-calculate using NPER or set it up so that each period is re-calculated based on the previous actuals in preceding periods (as for the answer above). Alan. |
| Alan Auckland, New Zealand |
» Re: AboveJeff, Apologies, I misread your location as your name. Sorry! Alan |
| Alan Auckland, New Zealand |
» Reply: HELP! - Shannon from San Diego, CA wrote on August 5, 2003 5:50 PM ESTHi Shannon,Using the following example: Interest rate: 10% pa Periods: 60 (5 years, monthly) Initial loan: $10,000 Final balance = $Nil Interest charged at end of period To get the interest payable in any one given period, we can use the IPMT function. For example, the fifth month interest is: IPMT((110%^(1/2))-1,5,60,10000,0,0) To get the total interest paid, we simply sum that function for all periods (1 through 60 inclusive), ut entering the following as an ARRAY FORMULA: {=SUM(IPMT((110%^(1/2))-1,ROW(1:60),60,10000,0,0))} Note that this must be entered with Shift-Ctrl-Enter to get the braces around the formula. Check Excel's help for more about array formulae. Alan. |
| Alan Auckland, New Zealand |
» Reply: Amortization Sheet ? - Bobby S. from Kaufman Tex. wrote on August 5, 2003 10:30 PM ESTHi Bobby,Isn't that exactly what the examples on this pge show you? If not, please post back with a more detailed query and I'm sure we can help. Thanks, Alan. |
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