(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
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") LastRow = Wks.Cells(Rows.Count, "A").End(xlUp).Row Set Rng = Wks.Range(Cells(2, "A"), Cells(LastRow, "D"))
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.
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.
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.
I have a column of years and a column of numbers representing annual amounts placed in a savings account for the year. I would like to calculate the balance of interest earned added to the balance of the account and then calculate the interest earned on the accumulating amounts each year. The results would be the account balance displayed in an adjoining column. So far, I have not found a worksheet function for that. Could someone point me in the right direction? Perhaps there should be several columns of data?
How can I find the total of interest (or and expense) during a given calendar range
Data is as follows
Date Type Amount 4/1/11 Interest 4.00 4/15/11 charge 22.00 5/1/11 interest 3.00
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
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% Amount left on loan is 150,000 Loan is fixed at 30 years with 28 years left
I want to run a formula so when I make a monthly payment of 1000 dollars how much of that goes to interest, how much to principle (not to make this complicated even more, but let say that I have 200 escrowed which I am not sure if that has interest calculated on(I donít think so as it is property tax?))
Same example for car loan. 5 year loan, 4.5% interest, payment 438 a month.
I'm an amateur to macro as I'm only in a low level class at a university... But I'm attempting to make a macro for a bank interest calculator. It asks your type of account(which then assigns an interest rate to it), how much money is in the account, and also how long th emoney will be in the account. I used a "Select Case" for the account types, but I seem to be struggling for it to work, it won't put the value of the total into the assigned cell, or it's just not computing it(as I get "0" each time I run it)...
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") 'input box for amount of money, assign address intMon = InputBox(prompt:="How much money do you currently have in the account?", _ ......................................
I have this sheet at work which contains a bunch of courses my employer runs, alongwith the dates and other details (which spans columns A through O)
Course-rows which require action/follow-up are highlighted with a certain color. The "completed" course-rows have no fill. Note: the courses requiring action may have a past date, the only distinguishing feature is the highlight color.
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).
I could add 'follow-up' flags on another column if the highlight color won't do.
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)," ")
But it is repeating the name or leaves the cell blank ( which i don't want). When I select Team1 it shud give me Names : a,d,e (without blank cell), Even i tried Array and some vba programmimg but it ...........
I am aware of the following topic in the VBA Help file:
"Using Microsoft Excel Worksheet Functions in Visual Basic You can use most Microsoft Excel worksheet functions in your Visual Basic statements. To see a list of the worksheet functions you can use, see List of Worksheet Functions Available to Visual Basic.
Note Some worksheet functions arenít useful in Visual Basic. For example, the Concatenate function isnít needed because in Visual Basic you can use the & operator to join multiple text values."
And I'm aware of how to call Excel funcitons from within VBA; e.g., answer = Application.WorksheetFunction.Min(myRange)
However, not only are some Excel functions not useful; the fact is they cannot be used because VBA has a native function that does exactly the same thing and you have to use that native VBA function to achieve your goal. It is these overlapping functions that I am especially interested in. I want to know what I should use directly in VBA and what I need to go to Excel for.
If i borrow Rs.50000/- at 7.25% interest compounding monthly, repayable in 4 quarterly instalments, when i put it in excel using pmt function for emi quarterly payment and ipmt for interest calculation at the end of the 4th quarter (i.e last instalment) the balance will not become zero it shows a balance of Rs.14.35 its due to interest compounding monthly, is there any formula in excel to overcome it?
Some years ago I came across a formulae to calculate Daily Interest on a Building Society Savings account in the UK. I have used this since but find my calculations never work out the same as my BS, although to my advantage! It is =B3*B4/360*DAYS360(B5,B6,TRUE) Where:
B3=Capital B4=Interest Rate B5=Starting Date B6=Finishing Date
For some reason the formulae uses 360/year and not 365/year. Using both still gives wrong answer.
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.
I currently can calculate the interest and fill in the below rows with each month but I would like to simplify the report so that I can add the Balance, Rate, Payment(2% of balance), and Time period and in another cell it will tell me how much interest I will pay in that time period. Bascially I would like to keep all the calculations in one row.
Balance | Rate | Payment | Time Period | Interest Paid $1,000 | 10.00%|$20.00 | 6 | $48.56
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?