Formula?

jamroad · Apr 25th, 2002, 08:34 PM

I have a worksheet in which i need find monthly mortage payments. Here is an example: Initial principal=$200,000 Increment=$10,000 Starting Interest 6.00% Interest increment 1.00% Term of Years=15.
What would be monthly payments if starting intrest increases in 1% inrements eg. 6%, 7%.. and the increment of $10,000 to intial payment, eg 200,000, 210,000, 220,000 and so on..
What would be formula to calculate monthly payments.
Thanks for help.

Tom Schreiner · Apr 25th, 2002, 09:08 PM

Hi jamroad,
I have a spreadsheet I threw together before my wife and I bought our house.
I can send it to you if you'd like.
TsTom@Hotmail.com

Or search on help for PMT function...

Tom

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Apr 25th, 2002, 08:34 PM	#1
jamroad New Member Join Date: Apr 2002 Posts: 1	I have a worksheet in which i need find monthly mortage payments. Here is an example: Initial principal=$200,000 Increment=$10,000 Starting Interest 6.00% Interest increment 1.00% Term of Years=15. What would be monthly payments if starting intrest increases in 1% inrements eg. 6%, 7%.. and the increment of $10,000 to intial payment, eg 200,000, 210,000, 220,000 and so on.. What would be formula to calculate monthly payments. Thanks for help.

Apr 25th, 2002, 09:08 PM	#2
Tom Schreiner Board Regular Join Date: Mar 2002 Location: Cincinnati, Ohio, USA Posts: 6,824	Hi jamroad, I have a spreadsheet I threw together before my wife and I bought our house. I can send it to you if you'd like. TsTom@Hotmail.com Or search on help for PMT function... Tom