Loan Calculation

[Helen1974]

I need to find a formula to help with the following.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-comfficeffice" /><o></o>
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If i loan money in the following manner and if the loan amount of loan one is a variable amount, as is the interest and the laon period, how can i calculate the value of my investment ? over any period of time, such as its value in 6, 12, 18, 24 months or longer if desired.<o></o>
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Examples<o></o>
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If i ONLY loan €100.00 to a client over 10 weeks at an interest rate of 10%, the client will make a weekly payment of €11.00.<o></o>
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On week no 2 i will receive €11 from client number 1, which i will lend to client number 2 at the same rate of interest and for the same period of time. This client will make a weekly payment of €1.21.<o></o>
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On week no 3 i will receive a payment from client 1 of €11.00 and a payment from client 2 of €1.21, totalling €12.21. This will be loaned to client number 3 at the same rate and time period as the above other clients and the client will make a weekly payment of €1.34.<o></o>
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This will continue over an unspecified period of loans, clients and time.<o></o>

 

[shg]

You're welcome, Helen.

 

[Helen1974]

Hi mate,

That code you sent to me is excellent, I have tested it against proven records and it hits the nail on the head every time. One last favour tho, from within the code you supplied, how can I change the currency to show Euro or Pounds instead of Dollars.

Cheers.

 

[shg]

I don't know -- I would have thought that your regional settings would have automatically changed the dollars to pounds. Does changing the cell formatting not work?

Maybe someone on your side of the pond knows.

Or lend in Dollars, and be a currency speculator as well as a loan shark ...

 

[Helen1974]

Wow, you dont know, there I was thinking that you were a genious of sorts, lol lol. Its no big deal anyway.

 

[shg]

Another myth destroyed ...

 

[Helen1974]

Good morning America, how are you

Tried changing the settings in excel to make changes to the currency symbol, no luck tho.

The 3 new cells you entered at the top of the page, Loan Amt, Interest and Payment Period can be formatted to any format I like, however, the results which are calculated when RUN has been clicked can not be formatted.

So as you seem to NOT to have a clue as to why this is, I got to thinking about it. and I have concluded that the currency symbol is written into your code, therefore the solution needs to come from you .

What do you think of that, and me blonde and all lol

chat soon

 

[MickG]

Hi, When I used the "FormatCurrency" (see VB Help) Function on all the relevant Variables throughout the code, I managed to changed all the Results Formats to "£".
Example:-

Set rOut = rOut.Offset(1)
            rOut.value = Array(iWeek, .count, FormatCurrency(cRcpt), FormatCurrency(cRcvb))
        Next iWeek