Formula for Qtrly Payments

slstewart249

New Member
Joined
Apr 14, 2018
Messages
3
I am trying to write a formula to show quarterly payments for the next 5 years. The payment table is from starts in 2018. First payment is not until Feb 2019.

A7: Feb-19 (payment start date)
A8: $25,000 (qtrly payment amount)

D4: 1/31/18 (across columns, 2/28/18, 3/31/18...etc to 2022)
D5: 1 (i.e. Month 1, January)

How do I fix the below formula so that payments don't start until Feb 19?

D8: =IF(MOD(D5,3)=MOD(MONTH($A$7),3),$A$8,0)
copy across
 

Excel Facts

How to calculate loan payments in Excel?
Use the PMT function: =PMT(5%/12,60,-25000) is for a $25,000 loan, 5% annual interest, 60 month loan.

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