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Thread: Formula?

  1. #1
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    I have a worksheet in which i need find monthly mortage payments. Here is an example: Initial principal=$200,000 Increment=$10,000 Starting Interest 6.00% Interest increment 1.00% Term of Years=15.
    What would be monthly payments if starting intrest increases in 1% inrements eg. 6%, 7%.. and the increment of $10,000 to intial payment, eg 200,000, 210,000, 220,000 and so on..
    What would be formula to calculate monthly payments.
    Thanks for help.

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    Hi jamroad,
    I have a spreadsheet I threw together before my wife and I bought our house.
    I can send it to you if you'd like.
    TsTom@Hotmail.com

    Or search on help for PMT function...

    Tom

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