Calculating Mortgage Interest

patrickp

New Member
Joined
Jan 28, 2021
Messages
2
Office Version
  1. 365
Platform
  1. Windows
Hi there,
I am trying to calculate interest for an old and new loan over a period of time (Cell D9- 3,5,7 or 10 years) and compare the two. I believe the new loan interest (K13 Amortization Tab) is correct in how the formula/interest is being calculated but for the old loan (K12) I believe it's off.

For the old loan, the origination date (D7 Amortization Tab) has a date of 1-28-2018 (3 years old) in which I need to calculate the interest for the past 3 years plus the interest for the next 5 years (if D9 is selected as 5 years) for a total of 8 years for a current loan.

So in comparison, I want to compare interest on a current loan that is 3 years old for a total of 8 years (if D9 is selected to 5 years) vs a new loan interest over the next 5 years with an origination date that is being proposed.

The date of the old/current will always change so it's essential to calculate the original origination date and original loan balance when factoring this in (Current Loan- B6, B8).

Thank you
 

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  • Amort Table1.JPG
    Amort Table1.JPG
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patrickp

New Member
Joined
Jan 28, 2021
Messages
2
Office Version
  1. 365
Platform
  1. Windows
here's a DropBox link to the Excel if you're able to use it to view fields.

 

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