Sienna de Souza
New Member
- Joined
- Mar 28, 2024
- Messages
- 1
- Office Version
- 365
-
If you would like to post, please check out the MrExcel Message Board FAQ and register here. If you forgot your password, you can reset your password.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
HI I need assistance in creating a formula for estimating interest on monthly payments for a 20 year period.
- Thread starter Sienna de Souza
- Start date
Excel Facts
How to find 2nd largest value in a column?
MAX finds the largest value. =LARGE(A:A,2) will find the second largest. =SMALL(A:A,3) will find the third smallest
Dave Patton
Well-known Member
- Joined
- Feb 15, 2002
- Messages
- 6,345
- Office Version
- 365
- 2010
- Platform
- Windows
Don't you have the interest on the amortization schedule?
It is better to post an example with the forum's tool named Xl2BB.
It is better to post an example with the forum's tool named Xl2BB.
| T240203a.xlsm | ||||
|---|---|---|---|---|
| A | B | |||
| 1 | ||||
| 2 | Principal | 44,900.00 | ||
| 3 | Term | 20 | ||
| 4 | Rate | 5% | ||
| 5 | Payment | $296.32 | ||
| 6 | ||||
| 7 | Interest | $26,216.83 | ||
| 8 | ||||
| 9 | $26,216.83 | |||
4a | ||||
| Cell Formulas | ||
|---|---|---|
| Range | Formula | |
| B5 | B5 | =PMT(B4/12,B3*12,-B2) |
| B7 | B7 | =B5*B3*12-B2 |
| B9 | B9 | =-CUMIPMT(B4/12,B3*12,B2,1,240,0) |
Upvote
0
Similar threads
- Replies
- 0
- Views
- 247
- Replies
- 2
- Views
- 154
- Replies
- 2
- Views
- 165
