# Interest Only Payment Formula

Aug 24, 2006
I have been raken by brain for a simple formula to calculate an Interest Only Payment on a mortage note, example,

sales price = $162000

term = 360

interest = 8.5

I was able to calculate the payment of principle and interest, but I need to validate what would be an Interest Only payment on this?

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Mar 4, 2014

I have a capital lease amortization schedule with annual increases to monthly rent that I am trying to solve for an interest rate such that the balance nets to zero at the end of the term. I am calculating on a monthly basis; in other words, principal minus monthly payment plus monthly interest expense equals ending monthly balance is calculated in each row each month. The present value is known, payment term is known, future value is zero, and the payment amounts increase annually. These assumptions may change for new leases so ideally the solution would be dynamic, adjusting for shorter/longer terms, etc. Here is an example of my assumptions:

Payment start date: 8/1/13

Term end date: 10/31/2025

Rent length in months: 144

1st months rent: $500,000 - payments are due at the beginning of the month and are paid monthly

Annual rent escalation: 3% - i.e. 1st 12 months is $500k/month, 2nd 12 months at $515K, etc.

Beginning NPV: $75M

Ending value: $0

Imputed annual interest rate: UNKNOWN

I'm not sure if this is relevant, but the monthly payment is allocated between principal and interest. Monthly interest expense is calculated as the current balance * (imputed interest rate / 12).

Currently, I've plugged the interest rate such that my ending balance is 0, however I was hoping to calculate it on the fly as opposed to manually plugging it.

how to calculate annual interest rate with these inputs? Is there a way to make the rate function work with payment increases?

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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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Nov 18, 2008

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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Dec 10, 2007

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 don’t think so as it is property tax?))

Same example for car loan.

5 year loan, 4.5% interest, payment 438 a month.

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Feb 20, 2014

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?

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Oct 21, 2009

I use Excel 2007 , I created Interest calculator , on Daily basis , to caluculate interest , compounded quarterly.

But I want to make it compact , as d one I created is long enough.

A3 = Principal Amount

B3 = Date of Investment

C3 = Interest as on Date

D3 = Number of Days , amount Invested {comes out of formula set}

E3 = Rate of Interest

Now in F3 I want the Interest amount , compunded quarterly.

Some times NUMBER OF INVESTED CAN BE LESS THAN 90 DAYS TOO...then what ?

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May 27, 2008

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.

For example

Balance | Rate | Payment | Time Period | Interest Paid

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

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Jan 27, 2007

I am trying to calculate the effective annual interest rate earned on an investment and find the results are close but not really accurate. I suspect because I have not included the frequency of interest in my existing formula

r = n * nt root (A/P-1)

where;

r = the effective interest rate

n = the number of times interest is added per year

t = the total number of years

A = the current value

P = the original value

The 2 problems I face are;

1. Confirming this formula would provide the correct answer (need maths expert here) &

2. How would "nt root" (as in sqr root, but using the product of the years and frequency) be used in Excel

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Feb 4, 2014

I have developed a financial calculator that asks the user for the "input date" which is used to record balances as of the input date. My interest calculation for the first year is based on the current date compared to the input date. For example, if the user is keying in a current balance of 10,000 @ 10% interest, and the "statement date" or "input date" is 12/30/2013, and the current date is today, 2/4/2014, then it should calculate interest for the entire year of 2014. It is not doing that. It calculates $3 interest.

But if input date is 6/30/2013 with current date of 2/4/2014, it seems to work OK. It calculates interest of $504 in that case. It appears to get messed up with the year transition between current date and input date. The formulas I have listed below appear to work fine except when the input date is 2013 for the year and the current date is 2014. The formula does not "see" that input date was last year. There must be a minor tweak to formula I am overlooking.

Cell C2 = Today's Date=TODAY()

Cell C3 = Input date (user keys in date in mm/dd/yyyy format)

Cell E2 = "translate input date to year format" =DATE(YEAR(C3),12,31)-C3

Cell E3 = Investment Rate

Cell G2 = yr 1 interest rate adjusted =(E3/1)*($E$2/365)

Cell C21 = Current Balance

Cell D21 = Interest Yr1 = C21*G2

I need the interest calculation to account for partial year accrual.

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Oct 17, 2009

1. Can I lock particular cell If Yes,How? I want to lock cells which contains formulas.

2. If cell K7 shows 11 I want to see G11 in H9. Same if Cell K7 shows 201 I want to see G201 in H9.

Its a interest calculation sheet where K7 is number of days amount invested and COLUMN G shows interest accured.

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Dec 20, 2011

I would like to have an excel table that has 240 usable lines going horizontal (to the right) and vertical (down) from the starting number.

I need it to compound interest in both directions

240 is the total number of days per year I am trying to track

There should be adjustable starting amounts and compound interest

Be able to adjust the entered amount anywhere along the time line and it recalculate the amount from there on...

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May 29, 2014

What I am trying to do is to create a formula for the attached spreadsheet - that calculates the daily compounding interest based on the higher rate of the two rates for the first five years then after 5 years the calculation should only be based solely on the blocked rate.

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Dec 2, 2008

This is a new payment status sheet that my company has put together to use with future clients. There are a few things that we would like fixed but can not figure out ourselves. I have attatched the document along with some notes as to what we can not get to work.

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Apr 9, 2009

I would like to be able to choose a month (from a drop down menu), then choose who the payment will go to ie. creditor (from a drop down menu) ie. car, truck, cc payment, as a result of those selections, then enter the amount of the payment, and finally the ending balance will appear. I have the drop down menus in place and I have all the balance calculations in place. I could use the spreadsheet that I have but I only want to see the below info. Plus I don't know how to link or lookup this data to the stuff I've already created.

Select Month:

Select Creditor:

Enter Payment:

New Balance:

I have already set the sheet up calculating the balances after a payment has been made. I know how to hide all the formulas, but I don't know how to get it to so that you choose a month, then creditor type (from drop down menus), and payment so that you see a new balance. I only want to be able to link or lookup the month, creditor together so that a payment can be made to that cell that I've already established. As a result, then that cell can be shown in the new balance.

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Feb 8, 2010

Not sure if this is the correct section for this kind of query but I'd like some assistance with a calculation that I can't seem to figure out.

Essentially it's for calculating night payments for our employee time-sheets. Our staff have very sporadic shifts and are paid extra for working between the hours of 00:00 and 06:00, basically when employee's enter their start and end times I'd like the spreadsheet to automatically calculate how many hours they have worked between those hours, I imagine it's very simple but I cannot figure out which function to use.

To complicate matters, because staff can work shifts which start on one day and finish the next we work on a 48:00 clock basis so its' not only between the hours of 00:00 - 06:00 where they qualify for night payments but also from 24:00 - 30:00 if that makes sense?

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Aug 12, 2013

I am trying to set up payment record sheet as follows

First Tab: This is the total value of each item, with the payment date in cell C1

Second Tab: Is the payment date of the item

Third Tab: Is the payment due tab

So what I want to do is enter the payment in C1 on the first tab. Then on the second tab I want to enter all the items that want paying on that day, but this will also have previous payment dates shown as a sort of record of what was paid on what day.

On the third tab I want it to show all the payments that correspond to the same date as C1 DATEVALUE

And on the gross tab I want to show all payments to date including the current date.

I have got the payment date to work but I cant get it to show all the previous values.

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Aug 20, 2013

I'm currently developing a model for a payment schedule. For example, lets say a customer purchases an item from a store, but the store receives that payment in the following month. I'm looking to develop a dynamic model so that if I change the assumption from 1 month to another term (2,3,4+ months etc.) the model will adjust accordingly.

I've started with a formula

=IF(MONTH(H3)-MONTH(G3)=B14,G11*B13)

But of course this will not work once the term is set to larger than 1 month. With B14 representing 1 month, and G11*B13 being payment information (price * quantity).

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May 2, 2014

I have a list of several hundred loan recipients who are all starting to pay their loans back on different dates. I am able to get the calculation to work so that I just need to put in the start date and excel works out the other 5 or 6 payment dates.The problem is, some people pay back on the 29th, 30th of the month which is giving me a headache when they are supposed to pay in February. The formula I am using calculates the next date of payment to be on the 3rd March (skipping the February payment all together).

The formula I am using is : =DATE(YEAR(A10),MONTH(A10)+1,DAY(A10))

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Aug 21, 2008

I have a situation where I need to highlight different customers based on what there terms of payment are. Conditions 1 and 3 seem to be working fine but for some reason condition 2 is not working at all. I made sure all names are exactly as listed in the A2 cell....

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Nov 3, 2006

I used erecord the other day to do my activity statement for the first time (I have just started a home based business which has not yet started trading but I had to send the BAS for the purchases that I had made for the business) and it was quite easy to use and you can send it electronically to the ATO which saves a lot of hassle particularly as I am very not accountancy litterate. However I am trying to develop an expenses/payment spreadsheet similar in function to erecord but that allows me to categorise the inputs.

My headers are:

Date

Cbookref = (drop down validation box) similar to a chart of account #

Category = ie - advertising accounting fees etc.. uses a look up function with cbook ref to populate field

Description .........................

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Sep 30, 2013

I'm working on a report where i need to find the last date a payment was made by a certain client. The problem is that not all clients have the same amount of payments so I cant just choose a payment number in my formula.

Trishlast payment.xlsx

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Mar 12, 2007

i have myself a table on the left is all the members names and along the top are 12 dates (1/1/07, 1/2/07 etc).

In another sheet i have a drop down box for the name of the person and a dropdown box to select a date and then a space to enter the amount paid so i need a macro that will find the name and date i selected from one sheet and take the amount paid into the other sheet and insert the amount in the correct place.

If it is unclear what i mean i will post screenshots tomorrow.

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Jul 7, 2013

How can i get the actual Payment due date from no. of days using macro. i. e.

Posting Date Dues Payment Date

------------ ------ ---------------

22.06.2013 21 days ???

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Nov 29, 2013

I have a file which student Monthly Loan Payment schedule.

I want to make a list which shows all payment period by installments and payment amount , dates by Student names.

Attached file, you can see all detail and wanted LIST.

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Mar 14, 2009

How to calculate a One time Payment to maintain the Tenure In Amortization?

Ex:-

I havea loan of Rs 1,00,000/- to be paid @ 8%/12 for the first year and then from 13th month , it will be Floating Rate of Interest which would be mostly higher than 8%/12...

I will be paying this loan off in 5 years ( i.e. 60 months)

and the EMI = Rs 2028/- per month..

Lets say, if the Interest goes up to 12%/12 after the 12th EMI then the tenure increases by 5 months from 60 months to 65 months thus adding to the cost of Rs 2028*5 = Rs 10140 more..

Now What amount do I need to pay alongwith the regular EMI's to maintain the tenure of months?

The amount Im referring to is a One-Time Payment added with the EMI for the 13 the mOnth to reduce the Principal and accordingly the tenure?

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May 24, 2006

I'm building a real estate payment calculator. I'm using the Payment (=PMT) function in Excel 2003. When I add the information that it asks for in its wizard, I receive the correct numerical figures but with a minus sign in front of it making the result negative, i.e. "-$630.13" instead of "$630.13."

Is this file corrupted or have I put something in incorrectly?

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Aug 11, 2013

i am trying to get the number of days from last time ticket paid till todate, considering the day & month of the hiring date but the year of the last time paid. say AAA hired on 15-Nov-2001 receives a ticket every 24 months; received last ticket in Nov 2011.

i want to count the number of days between 15-Nov 2011 until 31-Jul-2013 (dd & mm are from joining date yyyy from last time paid) i have a list of 1200 names with different dates of joining and different dates of payments.

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Nov 18, 2009

I have 2 production unit : A; B

They make payments to suppliers on certain periods : p1, p2..

The payments are on variable and different currencies : EUR, SEK, USD, CHF,AUD..

I explained the sample case table in attached excel sheet. My question is "how can i create the summary table easily and quickly by excel?"

currently I am calculating it by a simple excel formula (vlookup) that I need to change the range for each time. It s very time consuming and easy to make mistakes..

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Jul 1, 2009

I have a list of employees who's job status may change at the end of a given month. If the status changes, they have a supplemental payment that is tied to their job status and may change as well. But that depends upon certain conditions like their years of service and their union.

I'm trying to write a formula that will update that supplemental payment based upon certain conditions, but I can't quite seem to get it right. A challenge is the table I'm looking values up in has 8 columns and the value could be in any of the columns depending on years of service.

These are the conditions for the lookup:

1. If their union local is the same, they would keep the supplemental payment so long as it is not more than allowed for the title. If it is more, they get the supplemental that corresponds to the new title and the years of service.

2. If the new title is PAA and they have 10 or more years of service, the new supplmental is $600.00

3. If the new title is Clerical Associate II and they have a 6 or more years of service, they get a supplemental that corresponds to their years of service.

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Mar 21, 2014

Salesman

Sales Amount

Introduced by

sales

introduced

sales

indirectly introduced

sales

Tom

300

none

Tom

300

[Code] ........

I have salespeople who I want to pay a bonus to but I've also offered them a bonus on how much the salesmen they referred to the company sell and this goes like a pyramid down 3 levels.

so I have a list of salesmen next to there name is how much they have sold then who introduced them. from this I need to make a list of each salesman and below all the people he introduced and the people they introduced with the sales in the cell next to them.

To show how it could look I've done an example above of the information I need for tom, as you can see all the data is in the first 3 columns and tom needs to show that he introduced bob & Sue, but because Bob & Sue also introduced someone, tom needs to show he was involved in this as well and jo, terry, mark need to show, preferably in a different column as the bonus for them is lower.

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Jan 27, 2007

When a date is entered e.g 1/27/2007 The bill payment dates should all be automatically calculated under the “Date” column. Rules for the date

Rule1. e.g. 1 Month—the date should be 1 month after the date entered (as shown by the simple example 1/27/2007 one month is 2/27/2007 in the sheet)

Rule2 if the date entered is the last day of the month, the calculated date should also be the last day of the month provided it is a working day.

E.g 1/31/2007 one month is 2/28/2007. (provided 2/28 is working day)

2/28/2007 one month is 4/30/2007 (provided 4/30 is working day)

Rule3 If the calculated date based on rule1 and rule2 is a non-working day, the date is pushed back by 1 till it becomes a working day. e.g 1/27/2007 two month is 3/27/2007 if 3/27/2007 is Saturday it becomes 3/28/2007 which is a Sunday, another non-working day. So the output should be 3/29/2007

Rule4, under rule3, the date cannot be pushed to the next month. Instead, we push the date forward. In the previous example assume 3/29, 3/30 and 3/31 are all public holidays, by rule3, it will be finally pushed to 4/1. But this becomes another month. So we push forward instead to 3/26 which is Friday. The output is 3/26/2007

Definition of working dates (Monday to Friday excluding the holidays listed in the sheet).........

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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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Mar 20, 2008

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

Rent is $2.00 a month with a 3% escalation each year. What is my Rent after 5 years?

Now the other thing is that I need the number of years to be a formula that counts the number of columns with data up to the column with $0.00.

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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")

LastRow = Wks.Cells(Rows.Count, "A").End(xlUp).Row

Set Rng = Wks.Range(Cells(2, "A"), Cells(LastRow, "D"))

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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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Sep 9, 2009

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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Aug 6, 2006

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?

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Oct 13, 2011

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

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Mar 6, 2007

Is there a function that calculates what interest rate is needed to turn a $2000 investment into $9000000 in 30 years based on compounding interest?

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