Payment plan, with 2 accounts, paid in order

davfie

New Member
Joined
May 25, 2019
Messages
2
Hello! I am having a hard time doing this in excel, and variations of it::confused:

how can i calculate the monthly price i need to pay to pay down 2 accounts 2 0

where the 1st account is worth 2000 and has 0 percent interest

and the 2nd account is work 10,000 and has 5 percent compounting interest

but I must pay the 1st account down to 0 totally before I can pay the 2nd account down

and the payment amount must be an equal amount each month
 

davfie

New Member
Joined
May 25, 2019
Messages
2
oh yes, I need to prove it 2 ways with 2 cases
case #1
1. assume we want to pay it down in 12 months

case #2
2. assume i can only pay 10 a month, how many months will that take
 

Forum statistics

Threads
1,085,566
Messages
5,384,476
Members
401,904
Latest member
markschneider89

Some videos you may like

This Week's Hot Topics

Top