Calculating special loan amortization

[kuntri]

Hi,

How do I create a formula for this scenario:

Loan = 1000000
Income = 180000
Rate = 3.5%

Amortization = Income - Yearly interest rate amount

In how many years will the loan be repaid?

I also wish to know the amortization, interest rate, and current loan
amounts per year.

Thanks!

/Kenneth

 

[bplumhoff]

Hello,

=NPER(0.035,180000,-1000000,0,0)
which is about 6.29 years.

HTH,
Bernd

 

[Jim Cone]

The free Excel add-in "Calculate Payments" provides this ...

Loan: $1,000,000
Interest rate: 3.50 %
Term: 6 years - 3 months
Payments per year: 1
Number of payments: 6.3
Payment at end of period.
Payment: $180,000.00
Total payments: $1,131,353
'------------------
Download from (no registration required)...
http://www.realezsites.com/bus/primitivesoftware
Jim Cone
San Francisco, USA



"kuntri"
wrote in message
Hi,
How do I create a formula for this scenario:
Loan = 1000000
Income = 180000
Rate = 3.5%
Amortization = Income - Yearly interest rate amount
In how many years will the loan be repaid?
I also wish to know the amortization, interest rate, and current loan
amounts per year.
Thanks!
/Kenneth