walkingman
Board Regular
- Joined
- Feb 12, 2014
- Messages
- 69
Greetings, all.
I've encountered something I'm not quite sure how to navigate.
I'm continuing with my proposal page, and, having the PMT function all in place, I realized that there are times when I will want to set the interest rate to ZERO. With one main input with a data validation list of Zero or 6%.
The wheels kinda came off when, as I calculate total cost of financing, I'm getting WILD variations from pennies to negative numbers.
I realize that when a rate is set to ZERO, there IS no interest, and amounts can be calculated with the amount financed divided by the number of payments.
What I'm looking to do is save TIME, and inputting the rate in ONE place is easier than monkeying with doing separate calculations for Zero Interest.
The idea is pretty straightforward. I either charge 6% interest or none. And I break out payments from 12 months - 60 months, based on the amount financed.
I'm using 5 cells to calc the interest with a 10% deposit (which normally draws a 6% APR) and with a 20% deposit (which provides Zero APR)...
I've rounded the elements that I'd imagine would cause the numbers to vary as they are, but I'm stumped.
Any thoughts???
I suppose I could do an IF/THEN statement to calc numbers differently. Yes, I could do that... however, I'm finding myself intrigued, as it were, to find out what the heck could be causing these variations.
Input appreciated!
String
I've encountered something I'm not quite sure how to navigate.
I'm continuing with my proposal page, and, having the PMT function all in place, I realized that there are times when I will want to set the interest rate to ZERO. With one main input with a data validation list of Zero or 6%.
The wheels kinda came off when, as I calculate total cost of financing, I'm getting WILD variations from pennies to negative numbers.
I realize that when a rate is set to ZERO, there IS no interest, and amounts can be calculated with the amount financed divided by the number of payments.
What I'm looking to do is save TIME, and inputting the rate in ONE place is easier than monkeying with doing separate calculations for Zero Interest.
The idea is pretty straightforward. I either charge 6% interest or none. And I break out payments from 12 months - 60 months, based on the amount financed.
I'm using 5 cells to calc the interest with a 10% deposit (which normally draws a 6% APR) and with a 20% deposit (which provides Zero APR)...
I've rounded the elements that I'd imagine would cause the numbers to vary as they are, but I'm stumped.
Any thoughts???
I suppose I could do an IF/THEN statement to calc numbers differently. Yes, I could do that... however, I'm finding myself intrigued, as it were, to find out what the heck could be causing these variations.
Input appreciated!
String