P
paul_silverman
I have setup my formula for calculating a Canadian mortgage with an
accelerated weekly payment.
=PMT((rate/2+1)^(1/26)-1,52*25,value,0,0)
The formula does not give an accurate value since the weekly
accelerated payment actually reduces the total number of payment, i.e.
the loan gets paid in 21.x years instead of 25 years. How do I fix
this formula? Do I need to compute first the real nper value based on
the fact that i am doing weekly payments?
Thanks.
Paul
accelerated weekly payment.
=PMT((rate/2+1)^(1/26)-1,52*25,value,0,0)
The formula does not give an accurate value since the weekly
accelerated payment actually reduces the total number of payment, i.e.
the loan gets paid in 21.x years instead of 25 years. How do I fix
this formula? Do I need to compute first the real nper value based on
the fact that i am doing weekly payments?
Thanks.
Paul