How do I change the loan period in a amortization from years to mo

[Paigem21]

I would like to change the loan period in an amortization schedule from year
to months. Any sugestions on how to do this in a template that was
downloaded?

 

[Gary''s Student]

Checkout this:

http://www.vertex42.com/ExcelTemplates/loan-amortization-schedule.html


it is pretty flexible

 

[Paigem21]

I did that. I need to put in 65 months for the Loan_Years but it says years
only. I need it to calculate months instead of years. Can you help me?

 

[Gord Dibben]

65 months is 5.4166 years.

Can't you use that number?


Gord Dibben MS Excel MVP

 

[Harimau]

You can make your own payment schedule using the PMT function.

 

[Paigem21]

No I tried to do that but it said, "Please enter a whole number of years from
1 to 40"
Is there any thing else I could do to change it to recognize months?

 

[Paigem21]

I have never used that function before, can you give me some tips or an
example. It looks like it would be very usefule if I could learn how to use
it properly.

 

[Gord Dibben]

Remove the data validation from that cell.

Select the cell and Data>Validation>Clear all.


Gord