There are various references and links to " mortgage calculators;" though they are specific to the US dollar. Is the formula still the same, irrespective of the currency and why does it come across as quite a complex calculation? i have been taksed with designing a "calculator" and don't seem to know where to start as the currency issue is confusing me.
View 7 RepliesI'm working with a loan amortization worksheet (downloaded from Office Online). Unless I don't understand correctly, the date formula on the worksheet doesn't calculate the way I need it to. I'm not totally sure what the formula they use is doing. It does use a lot of named ranges.
If a user inserts the total "Number of Payments per year", then I want the date to return the proper payment date.
For instance, If the start date is 1/1/07 and the number of payments per year is 24 then the payment dates should be like
1/15/07
1/31/01
2/15/07
2/28/07
It should be the 15th and the last day of the month.
If I put 52 as the number of payments then I want the formula to set the payment dates to every Friday.
I'm still learning formulas so bare with me guys. Attached is the worksheet.
I have uploaded a sample amortization schedule.
1. I require the table to adjust itself based on the loan period and number of payments per year entered in D14 and D15 respectively.
2. Also, if a value is entered in column E, then i require the whole table to update as well.
In a financial environment we have a calculator which uses iteration to allow for a cost being added to loan amount where the cost is based on the total loan amount. Iteration is set to 100 iterations with max change .001
On one PC the first time the calculator is opened it gives a particular (incorrect) result. If the input cells are cleared and the data re-entered, it gives the correct result. This only happens on one particular PC. Is there some other setting , other than the iteration setting, that would cause this?
How to make EXCEL 2007 Automatically convert all my CURRENCY symbols in all cells formatted for CURRENCY in THE SAME SHEET to the one and ONLY currency selected in JUST ONE cell ? (i mean, after conversion, all of them are Not just display currency symbols, but Calculable monetary values like regular Excel's built-in currency format)
I am a dummy in VBA so I really am not familiar at all if the solution is really one of VBA. I don't even know how to start programming VBA at all in Excel.
I have several rows which lists different currencies - USD, GBP, EURO, JPY etc.,
A1 usd 5000
A2 GBP 7000
A3 USD 3400
A4 EUR 12000
A5 JPY 89000
A6 EUR 1000
At the bottom I want to show the total of each currency separtely.
I'm viewing some financial data that needs formatting. I select the appropriate cells and format the corresponding values accordingly:
Right click / Format Cells / Number -> Decimal places:2 -> (check) Use 1000 Separator(,)
It's easier to read the sums and averages (at the bottom-right of the excel window) when the above described formatting is used.
But is it possible, and easily do-able, to have the zeroes show as 0 and not 0.00?
I have a combo box where the selected abbreviation will affect the number of decimal places in another cell where figures are manually entered. The decimal places will range from 0 to 5.
The combobox contains abbreviations of product codes i.e TM, FGGT, etc up to 40+ & the range of value can vary from 4 digits to possibly 10.
So what I am looking for is if I select TM another four columns require digits to be manually input with 2 decimal places, however, if I select FGGT the same columns in a different row will need to be 4 decimal places as per the product code selection from the combobox.
e.g TM = 2 decimals
FGGT = 4 decimals,
I have an Excel sheet where users enter shift start and finish times (normal Excel time format) - for example: A1 might be 18:00 and A2 might be 06:00 for an overnight shift from 6pm to 6am.
All I need to calculate from these times are the number of hours to which an allowance applies, under the following conditions.
The allowance is paid for all hours worked between 18:00 and 06:00.After 10 hours, a shift becomes overtime and no shift allowance is paid.Shifts are regularly worked overnight (i.e. past midnight into the following morning)
Example scenarios include:03:00 - 15:00 would pay 3 hours of shift allowance09:00 - 21:00 would pay 1 hour of the allowance (as the shift becomes overtime from 19:00)03:00 - 21:00 would pay 3 hours19:00 to 08:00 would pay 10 hours (as the shift becomes overtime from 05:00 the following morning)22:00 to 10:00 would pay 8 hours
And so on.
I feel like I’ve got most of the pieces of the jigsaw, but I can’t put them together! I’ve got the following formulae working out bits of what I think I need:
[Code] ........
The above works out the number of hours before 6am and after 6pm respectively (which I can then SUM), and I believe also accounts for overnight shifts. This obviously doesn't include the more-than-10-hours criteria yet.
The larger formula now looks like this:
[Code] ......
…but this still doesn’t work properly! The sections referring to 1.25 were my attempt to get the shift allowance to stop if the past-midnight shift continues past 06:00, but I don't think it works properly.
I also know I’m probably using *24 and /24 more than I need to, but that’s partly so I’ve got a better grasp of what the formula is doing.
Once this is working, I'm happy using an IF… >10 formula to prevent the total number of hours of shift allowance being more than 10. However, I’m really struggling to find one single formula that will factor in shifts that might start before 6am and finish after 6pm (i.e. 05:00 – 19:00, which should pay one hour), shifts that might go past midnight and possibly past 06:00 the next day, and so on.
Lastly – not to try and complicate things further – there is an optional cell elsewhere, say A3, where a user enters ‘Y’ if the individual takes an unpaid 30 minute break at some point during the shift. This is to be deducted from whatever type of hours are being paid at the end of the shift. For example, if a shift is from 01:00 - 11:00 with the break, it would pay 5 hours with a shift allowance and 4.5 without. If the shift was 13:00 - 23:00, it would pay 5 without the allowance and 4.5 with the allowance. Is there a practical way of doing this, or does this become much more complicated?
I am trying to build a complex equation that has multiple parameters filled by several choices from several different dropdown menus.
For instance:
I'm building a set of 5 dropdown menus, that each lead to filling certain boxes with a number created from a formula. I've provided a small sample to explain what I'm trying to do.
My problem is, I'm unsure of how to make it so certain drop down menus affect the information inside of the next. Like, I want to have someone select "Oscar" under the characters, and have the "Lances" list come up in the Weapons column menu. I don't want the Weapons menu to be selectable in any way unless a "Character" has been selected.
I am looking for an amortization formula sheet for a boat loan that I have. That is easy enough, and I found that, but here is the hard part.
I went in on the loan with 4 different people all paying different prices a month. Let me get specific - I have a loan where one person is paying $55 a month, another $30, and three more $35 each. For a total of $190/month for the boat loan.
I want to be able to keep track how much each individual person owes in principal and in interest. Those prices a month are the minimum they will pay each month, but if someone decides to make more than the minimum payment, then it will mess everyone up with the total amount that they still owe.
So basically even though it is more one big loan, it is actually a total of 5 smaller loans as well with the same interest rate, but different minimum payments a month.
I am trying to use the if function in an amortization table and I am wondering if there is a way to make it so if I cut the years in half if I can make the table read with 0's or dashes rather than to start counting back up again.
View 9 Replies View RelatedI need help creating a formula. I have an amortization table and I need to take each months information and place it into a cell which resides in a letter. In the end, there should be 180 pages with different dates, interest, principal and total payments. I know that there is a way and I can not figure it out.
View 9 Replies View RelatedI need to create an amortization table for several thousand loans. I could create a seperate amortization schedule for each loan, but as you can imagine, doing so would take a long time.
These loans have varying interest rates, loan periods, and beginning balances, so it is not as if I could just add the beginning balances together and amortize on that basis.
It seems like this will require a VBA macro, however my programming skills are a little rusty.
I am in need of a formula to calculate monthly straight-line depreciation assets based on the current month’s days.
So, if an asset costs $10,000 and has 15 years of useful life, in June this would calculate 15 divided by 12 divided by 31 times 10,000. I want to put cost in one cell and date in another, for the formula.
BTW, someone is using this formula, =(16736*(1/15)*(6/12))*31/184
I'm trying to make an amortization table with all the individual payments. I'm trying to avoid putting in the formula manually into each individual cell. I have a formula = ROUND(F11*0.12/12,0) and I want to insert that formula down an entire column, but increasing the F11 to F12, F13, etc.
View 4 Replies View RelatedHow 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?
I have a spreadsheet that has amortization tables for several loans. I am trying to add a summary tab that will pull the next due date on each loan. Some of the loans are behind so I can't use a >today() function. I have been trying the following:
=MIN(IF(AND(ISBLANK(Smith!A:A),NOT(ISBLANK(Smith!B:B))),Smith!B:B))
Column A is date payment is actually made, and column B is due date, so I want to return the first column B that has nothing in column A.
I owe 15462 in the bank, currency dont matter here, that is what I owe right now, but I want to have a cell in the frontpage with the amount left, so can I make a line called =remaining-each month
the amount should then each month be substracted from the new month and so on, until the amount is 0
can this be done?
the second page in the spreadsheet has a post with monthly pays to the bank ...
I have a sheet (like example attached). it's broken out by month for many decades. certain columns like B-N need each field populated. There are others like O, P, Q, where I need to delete all cells except for 2 months that year (in this example, all except May and November).
Is there a shortcut method to do this quicker?
example.xlsx
1. Want to findout in which stage the loan is ? Eg: 1212321231 is in PROCESSING STAGE because the date appears under processing .
2. want to find out how many stages it has paased ? Eg: Loan 1212321231 has passed 3 stages and now in 4th stage(processing).
I have 4 Loans of various interest rates, balances, and minimum payments.
Assuming I have a certain amount of money to pay out each month, how can I minimize the total amount I pay over the lifetime of the loans?
Given:
Total Monthly payment: M
Interest Rate for each loan: R1, R2, R3, R4
Initial Principal for each Loan: P1, P2, P3, P4
Minimum Monthly Payment: Min1, Min2, Min3, Min4
Each month, how should I distribute M over the 4 loans?
I have used the PMT function but this gives me the total to pay per month.
I want to know what the repayments would be and also allow me to add in each one of the periods and extra repayment option.
So if in the year I wanted to pay an extra $100 per month, I would put $100 next to each period as in a particular period(s) I might not have to put in there but want to predict what the amount owing on the house is.
Is this possible or is this too complicated.
I am working with an amortization table and need to work out the elapsed time to amortize the loan.
Currently the worksheet is working fine and calculates the end date of the loan but the length of the column varies depending on the scenario.
I need a formula to calculate the time that elapses between the first date and last date.
The data starts in cell b13 and the last date could appear in pretty much any cell below that, so the formula will need to look for the last valid entry.
I am using excel 2003.
I am using Excel 2003 and I created an amortization schedule set up for an debt account. I am trying to pull the "Balance Due" from that schedule into another chart based on the current date (these are on two different sheets in a workbook).
For example, this is my 'Amortization Schedule':
Balance
Due
Interest
Rate
This Month's
Interest
This Month's
Payment
[code]....
And I am trying to pull the "Balance Due" from that schedule to place into this chart on my 'Debts' sheet: (based on the current date)
Name
Starting
Balance
Remaining
Balance
Interest
Rate
Minimum
[code]....
For example, if today were 1/15/13, I would want $3,796.34 from the schedule to go where the "x" is on the chart above. What formula would I use to accomplish this?
Also, on a side note, would there be a formula to have Excel pull the "Payment Date" from the schedule into the "Payoff Date" in the chart based on where the row has a $0 Balance Due?
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.
I currently use goal seek to calculate an interest rate for a loan product. My problem is i would like to have the same function but not through a goal seek. In goal seek i have to set the value i want to achieve but ideally i want it to calculate automatically
I have attached a workbook with details. I use a loan amortization schedule to calculate the interest from parameters set on sheet 1
I have a calculation I do that calculates a clients "effective interest rate" if they make extra payments towards principal.. Calculation works fine.. However, I am now trying to figure out how to amend that code if it's an interest only loan, anyone have any ideas?
Here is the effective rate calcs on a random normal amortization loan:
this is in B2, and answer is 7%
=RATE(B4*B5,-((B3+B7)/B6),B7)*12
B3 = Total*Interest 279017.8
B4 = #*Years*in*Loan 30
B5 = #*Payments*/*Year 12
B6 = Total*Payments 360
B7 = Beginning*Principal 200000
B8 - Ending*Balance 0
problem is when someone is on an interest only loan they pay more interest than a normal amortization because they are not reducing the principal in the first x number of years. So I need to compare the interest only effective rate to an interest only loan.
Here is the example I'm working on... A client's loan is the following:
Loan amount - 131,538
interest rate - 6.15
30 year amortization
10 years interest only
normal client would pay an interest only payment of 674.13, then after i/o period would go to 953.80 for last 20 years of the loan, and they'd pay about $178k in interest.. Now if that client pays an extra 1,000 per year, I can calculate the amount of interest they'd accrue, but have no clue how to back into the "effective interest rate", basically that says you are paying the same amount of interest as someone with a x.xx% interest only loan.
I have been loaning my brother money over the past 14 months. The loans have been in the form or $1000 per month plus random payments for one-off expenses like doctors fees. He's not paid anything back yet but we want to know what the total owed is for interest of 10% per annum.
I can easily create a table with payments I've made and the dates with a running total of how much I've paid but how to I create a running balance of what he owes over time based on adding in interest. This might end with a one-off payment in a couple of months, I'd like to calculate what is owed there as a minimum.
how I can solve the issue of creating a spreadsheet (similar to an amortization one) that could deal with unequal re-payment regime as well as unfixed (anytime of the month) payment periods.
View 9 Replies View Related