Commercial HP or Loan Repayments

[Michaelbbeck]

Hi Guys

I am looking to work out a simple repayment schedule monthly, please.

Inputs are
loan amount
time in years
interest rate pa
balloon %

I want to get the
monthly repayment, please

Lost on this one as a newbie

thank you all again.

 

[yky]

Please check out this thread, article #4.

loan amortisation with erratic payments

 

[joeu2004]

In general, assuming equal monthly payments:

=PMT(annualRate/12, years*12, -loan, balloon)

Note the sign of the values: loan is negative; balloon amount (final balance) and PMT are positive.

This also assumes that the loan amortizes "normally" (the so-called actuarial method). But some loans can be structured differently.

So if the PMT formula above does answer your question complete, it would behoove you to provide more details about the terms of the loan, as well as details numbers, ideally including the monthly payment of a known example, if you know one.

It is unclear what you mean by "balloon %". If the balloon amount is described as a percent of the loan, you can replace "balloon" in the formula above with the expression loan*pct