Interest Functions

Dec 3, 2005

The file I am working with is available here

(1) I need to work out the value of 2 years worth of interest on a loan - details would be

Loan = 30,180.00
interest = 14.90% pa (calculated daily)
term of loan would be 60 months

I am currently using an ammortisation speadsheet which calculates the interest per month etc ... at this time I simply highlight and calculate the interest which would be two years worth ...

the problem is this calculation varies from the bank interest calculations (although the repayments are the same and the total interest payable amounts are the same)

The banks calculations are said to be done on the basis that the minimum monthly repayment is met and there are no additional fees thrown in ... so I cant understand the difference ...

(2) In addition to the above question, but working on the same loan, traditionally amortisation tables calculate the amount of the repayments, the interest component and the principal component ... some include a column where you can factor in additional repayments on a row by row basis (like the one I am referring to) the table assumes that the payment is made on the due date ...

what I would like to be able to do is
(a) insert the actual payment dates
(b) if no payment is recorded for that period, automatically insert an overdue fee

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Dec 29, 2013

I have a problem calculating a total interest for an input period that has different interest rates. You can see the attached file: INTEREST.xls

I have used a function but the result comes out wrong. Can I fine tune it or do I have to change my method of calculating.

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I'm trying to find a formula that will give me the following:

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Apr 28, 2008

I have a macro that formats a spreadsheet to show outstanding invoices, grouped and subtotalled by month. To add to this I need VBA code that will use the subtotals to calculate interest on overdue accounts.

Interest becomes due a calender month after the month in which the invoice is dated. So for example a January invoice would start to accrue interest on 1st March.

Below is the subtotals code (sadly the totals don't adjust if data is added or removed but perhaps that is another question for another day.)

Dim LastRow As Long
Dim NextMonth As String
Dim R As Long
Dim Rng As Range
Dim SubAmount As Currency
Dim ThisMonth As String
Dim TotalAmount As Currency
Dim Wks As Worksheet

Set Wks = Worksheets("Reconciliation")
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May 6, 2008

attached the spreadsheet that I need help with in that same thread. Please check out the spreadsheet via: [url]

Here's my issue:

I'm trying to be debt free roughly around 10-11 years years based on my current plan. SO, what I am trying to do is figure out what I can do with my savings at 1, 2, and a 3 % rate of return in a savings account that is compounded monthly after that debt free point. My time frame for results are 5-10-15-and 20 years.

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I have a person who was paid £1000 pension pa for ten years. I've found out that the pension should have been split 50/50 with half increasing by 5% pa. Thus in year 1 total pension would be £1000. In year 2 the total pension would be £1025 ((£500 x 1.05) plus £500)

I know that in year 10 the total pension should be £500 (non increasing) plus £814 (£500 x 1.05 to the power of ten). My problem is how do I work out a formula which calculates the total arrears due in year ten? I'm thinking the arrears due after the ten years is £314 but something is telling me it's a lot more.

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I have created a template that I use to determine interest calculations (it is based on simple daily interest, but monthly compounding and adjusts for any variations in interest rates during the month), and it seems to work fine so far.

However, I am trying to make it better and would like to eliminate as much manual input as possible. I have attached an example of the template to help explain what I would like to achieve

The Running Balance is dependant on column "J" - Interest for the Month. At the moment, I am manually adding up interest accumulated for the month, however if I add one cell too high or miss a cell when adding, it can lead to compounded problems further down. So in short I am looking for a method that would automatically calculate "interest for the month" by adding all the amounts in column "I" (Interest Daily) at month end for that month only (dates are entered in Column B)

In the attached template, grey areas indicate capital movements and/or interest rate changes that may occur during a month (ie movement in the month in question that affects the daily interest calculated)

I hope I've covered everything!

Any help in this regard comes most appreciated. If anything is unclear, I will do my best to explain what I am trying to achieve in greater detail.

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I want a cell to compute the interest in april only.

I have tried =sumif(range, end date, amount_range)- sumif(range, beg date, amount_range)

but how do I nest the type argument into the argument

Possible approaches advanced filter? and function? add another column that uses an if statement to do interest only and do the sumif statement above I was hoping to have a drop down box that could have interest, COGS, beside it and april, may, june above it

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I am trying to set up a budget for my self. Of course I am trying to make it as complicated as possible.

I have done searches online and that is how I found this forum. I am finding amortization formulas, but not what I want

Here is my question.

I have two fields, Mortgage and auto loan

I want to have a field that does a calculation for me.
I know following fields as an example making numbers up
Interest rate is fixed at 5.5%
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Same example for car loan.
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Sample data:

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Dec 1, 2006

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Public Function BankCalculator()
'Bank Calculator for different accounts
'declare variable
Dim shtBank As Workbook, strAct As String, intMon As Integer, strLong As Integer, intTotal As Double
Set shtBank = Application.Workbooks("Bank Calculator.xls")
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Is there any way by which i could generate a pop-up box of some sort which would display the "highlighted" rows (maybe from A through I or something).

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Following is the excel database. B11 is the dropdown menu. When I select the team from drop down menu. it shud give me sorted Name list from B12. I tried the following formula: =IF(INDEX($C3:$E$11,MATCH($C$12,$D3:$D$11,0),2)=$C$12,INDEX($C3:$E$11,MATCH($C$12,$D3:$D$11,0),1)," ")

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ABC
1SrNameTeam
21aTeam 1
32bTeam 2
43cTeam 3
54dTeam 1
65eTeam 1
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87gTeam 3
98hTeam 4
10
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12b
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=IF(AND(ISBLANK(A3),NOT(ISNUMBER(I3))),"",IF(TODAY()-A3>=30,G3*0.5%,"$0.00"))
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Ive added an image (attached) : excel.jpg‚Äé

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find attached herewith a sample file.

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I am currently trying to create an excel spreadsheet where I would know how much interest I will pay in the next six months, since the balance changes every month I am not sure how to formulate the total interest paid with in a specified time period.

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For example

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$1,000 | 10.00%|$20.00 | 6 | $48.56

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I have a grid to determine interest rates. The are add ons to the rate that are dependent on two factors - the credit score and the Loan to Value percent or LTV, both of which are shown in terms of ranges (720-739, etc). See the screen shot below.

I have already written formulas for converting the score and LTV to the ranges as they appear on the sheet (ie, if you type in a score of 722, the formula converts it to the range of 720-739.

What I need to do is this - when the score and LTV are input and determine which set of add ons come into play, I need the sheet to take those add-ons, identified by an x next to it at the top of the page, and add them to the base interest rate, giving me the final rate. Again, see below to make this more clear.

I've thought of using VLookup, but I don' think that would be applicable here.

What's the best method, and can you give me an example of what a formula might look like?

Loan Level Pricing Adjustments

Base Rate 6.25 6.25

Credit Score 741 >740

LTV 60 740 Cash Out 0 0 0 0.25 0.375 0.375 n/a >740 Investment 1.5 1.5 1.5 2 2.5 2.5 n/a >740 2-unit 0.5 0.5 0.5 0.5 0.5 0.5 0.5 >740 3-4 unit 1 1 1 1 n/a n/a n/a

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