Ironadhammm
New Member
- Joined
- Mar 24, 2022
- Messages
- 4
- Office Version
- 365
Hi all,
Im struggling to replicate the amortisation schedule sent to me by the bank.
I'm using the RATE and IPMT formulas, inputting the Balloon as the future value, but i'm unable to get my workings to match the banks schedule.
I think it has something to do with the number of periods and the balloon but am unsure.
My workings are in column G of the spreadsheet below.
Can someone please help?
Regards
Adam
Im struggling to replicate the amortisation schedule sent to me by the bank.
- The loan principal is 510,733.02
- The interest rate is supposed to be 3.81%
- The duration is for 5 years
- Repayments are made at the beginning of each period
- There is a $199,999.97 balloon at the end
I'm using the RATE and IPMT formulas, inputting the Balloon as the future value, but i'm unable to get my workings to match the banks schedule.
I think it has something to do with the number of periods and the balloon but am unsure.
My workings are in column G of the spreadsheet below.
Can someone please help?
Regards
Adam