Total interest paid

Paully

New Member
Joined
Jul 27, 2004
Messages
23
When I plug $500,000 at 8% interest, over 5 year loan period, for 12 payment periods per year into the loan amortization ss, it calculates my Total Interest paid over the life of the loan to be $108,291.83.

Is there a formula I can use in one cell in another ss that will give me the same answer?

I have tried IPMT and ISPMT and searched the threads, with no luck. Can you help me?
 

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Paully

New Member
Joined
Jul 27, 2004
Messages
23
I tried to copy and past the formula and retyping it and in my cell it shows #NAME?

What do you think I could be doing wrong?
 

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