I need to know formula to figure out payoff date???

[Rockstar315]

CELLS:
C4 Principal is.... $20,000
C5 Annual Interest... 5.00%
C6 Date of first patment... 1/1/2009
C7 Loan in Years... 5 years

G4 Monthly Payments....$377.42
G5 Scheduled Payments.... 60
G6 Payoff date....??????

What is the formula to figure out the payoff date. I think it is a index function - I have googled it, looked through my books and have been stuck for 5 hours now. PLEASE HELP!!

 

[jim may]

Excel Workbook
	A	B	C	D	E	F	G	H
1
2
3
4
5						Scheduled Payments	60
6		Date of first patment...	1/1/2009			Payoff date	12/1/2013	<<<<< ????
Sheet1

Excel 2007

Cell Formulas
Range	Formula
G6	=DATE(YEAR(C6)+(G5/12),MONTH(C6)-1,DAY(C6))

 

[Dave Patton]

initial date 1/12/08 in B6

Add 5 years to that date =DATE(YEAR(B6)+5,MONTH(B6),DAY(B6))

or add 4 years and 11 months after 1st payment


=DATE(YEAR(C6)+4,MONTH(C6)+11,DAY(C6))

 

[shg]

Or =EDATE(first pmt date, # of payments - 1)

 

[Rockstar315]

I thank you so very much. I have spent half of my day on this question. You are the Excel king!! Thank you again