Judgment was awarded on December 22, 2018, the current amount owed as of today is $32,920.49, with an annual interest rate of 4%. The daily interest on the judgment is $3.61. What is tricky is that the debtor wants to make payments at the end of each month. Interest will continue to accrue until the judgment is paid.

My question: is there a formula that can deduct the payments (sometimes $1,000, could be more) from the principal amount of the judgment, and have the daily interest applied to the calculation?

Cells: A1 Judgment Date; B1 Judgment Amount; C1 Annual Interest Rate; D1 Daily Interest Rate; E1 Payments Made; F1 Amount Due

Thank you for ANY advice on this matter!