RhysBillOfficial
New Member
 Joined
 Aug 25, 2020
 Messages
 10
 Office Version

 365
 Platform

 Windows
Hello,
I am trying to create a loan calculator to determine the amount the borrower will pay on a bimonthly basis.
I tried revising my formula many times but the result is different when I try to calculate it manually.
Here is the table below for reference.
The calculation should look like this.
20,000 / 3 months * 2 = result should be 3333.333
then 3333.333 + half of the interest rate and should provide a result of 3,500.00
But for some odd reason, I am getting a result of 3833.33 or 7166.67.
If someone could explain what I've done wrong, that would be appreciated.
Kind Regards,
@RhysBillOfficial
I am trying to create a loan calculator to determine the amount the borrower will pay on a bimonthly basis.
I tried revising my formula many times but the result is different when I try to calculate it manually.
Here is the table below for reference.
A  B  C  
1  Loan Amount  :  20,000.00 
2  Interest Rate  :  10 
3  Months to Pay  :  3 
4  Amount Payable  :  3500.00 
The calculation should look like this.
20,000 / 3 months * 2 = result should be 3333.333
then 3333.333 + half of the interest rate and should provide a result of 3,500.00
But for some odd reason, I am getting a result of 3833.33 or 7166.67.
If someone could explain what I've done wrong, that would be appreciated.
Kind Regards,
@RhysBillOfficial