Loan Repayment Template?

[sfshel]

Hi-
I'm looking for a statement form for a loan repayment. This should be in a
four-column format, like this: I want to be able to enter in one column the
amount that I pay toward the loan, the next column calculates the principal
paid and another column caculates the interest (at 4%) paid and the last
column caculates what the remaining balance is.
I want to be able to send this to my creditor as a statement each month as
our record of where the account/loan stands. I've looked everywhere, but I
can't find this straightforward-seeming template. Can someone please point
me in the right direction? Thanks very much!

 

[JoAnn Paules]

I've never used the term "straightforward" when it comes to calculating
interest.

You may need to create your own spreadsheet since you can't find a template
that suits your needs.

 

[Troi-Xanh]

You need to clarify two important information:
1. Is it revolving (no-end date) or amortizing (fixed time)
2. What kind of compounding interest? (simple at the end of the month or
daily compound)
You then can use specific formula built-in in Excel to do the calculation.
Good luck!

I've never used the term "straightforward" when it comes to calculating
interest.

You may need to create your own spreadsheet since you can't find a template
that suits your needs.

--

JoAnn Paules
MVP Microsoft [Publisher]
Tech Editor for "Microsoft Publisher 2007 For Dummies"

Hi-
I'm looking for a statement form for a loan repayment. This should be in
a
four-column format, like this: I want to be able to enter in one column
the
amount that I pay toward the loan, the next column calculates the
principal
paid and another column caculates the interest (at 4%) paid and the last
column caculates what the remaining balance is.
I want to be able to send this to my creditor as a statement each month as
our record of where the account/loan stands. I've looked everywhere, but
I
can't find this straightforward-seeming template. Can someone please
point
me in the right direction? Thanks very much!

 

[JoAnn Paules]

ARGH! See what I mean? Unless you understand how they are calculating the
interest, you can't create the template. And if you *can* calculate the
interest, you're probably in the wrong field.

--

JoAnn Paules
MVP Microsoft [Publisher]
Tech Editor for "Microsoft Publisher 2007 For Dummies"

You need to clarify two important information:
1. Is it revolving (no-end date) or amortizing (fixed time)
2. What kind of compounding interest? (simple at the end of the month or
daily compound)
You then can use specific formula built-in in Excel to do the calculation.
Good luck!

I've never used the term "straightforward" when it comes to calculating
interest.

You may need to create your own spreadsheet since you can't find a
template
that suits your needs.

--

JoAnn Paules
MVP Microsoft [Publisher]
Tech Editor for "Microsoft Publisher 2007 For Dummies"

Hi-
I'm looking for a statement form for a loan repayment. This should be
in
a
four-column format, like this: I want to be able to enter in one column
the
amount that I pay toward the loan, the next column calculates the
principal
paid and another column caculates the interest (at 4%) paid and the
last
column caculates what the remaining balance is.
I want to be able to send this to my creditor as a statement each month
as
our record of where the account/loan stands. I've looked everywhere,
but
I
can't find this straightforward-seeming template. Can someone please
point
me in the right direction? Thanks very much!

 

[Troi-Xanh]

For amortization, I just "google" the term and the result is '104,000 for
"Loan amortization calculator"'!!!
For simple monthly interest, just use 1/12 of the anual interest for the
loan amount then make simple substractions.
Have fun!

ARGH! See what I mean? Unless you understand how they are calculating the
interest, you can't create the template. And if you *can* calculate the
interest, you're probably in the wrong field.

--

JoAnn Paules
MVP Microsoft [Publisher]
Tech Editor for "Microsoft Publisher 2007 For Dummies"

You need to clarify two important information:
1. Is it revolving (no-end date) or amortizing (fixed time)
2. What kind of compounding interest? (simple at the end of the month or
daily compound)
You then can use specific formula built-in in Excel to do the calculation.
Good luck!

I've never used the term "straightforward" when it comes to calculating
interest.

You may need to create your own spreadsheet since you can't find a
template
that suits your needs.

--

JoAnn Paules
MVP Microsoft [Publisher]
Tech Editor for "Microsoft Publisher 2007 For Dummies"



Hi-
I'm looking for a statement form for a loan repayment. This should be
in
a
four-column format, like this: I want to be able to enter in one column
the
amount that I pay toward the loan, the next column calculates the
principal
paid and another column caculates the interest (at 4%) paid and the
last
column caculates what the remaining balance is.
I want to be able to send this to my creditor as a statement each month
as
our record of where the account/loan stands. I've looked everywhere,
but
I
can't find this straightforward-seeming template. Can someone please
point
me in the right direction? Thanks very much!

 

[sfshel]

Thanks so much for taking the time to help me. What this is is a personal
loan from a friend at 4% per year. I'd like to calculale it exactly as a
bank would, that is starting with a loan amount, say $10,000. Payment #1 is
$1000. That would be $1000 split into principal and interest toward the
total. Payment #2 might be $1200, that would need to be broken down into
principal and interest on the previous remaining balance, etc.
I have found those many Loan Amortization schedules you are talking about
and that IS EXACTLY the type of calculation I want EXCEPT for this key
feature I need: I need to be able to enter different payment amounts each
month and keep a running total to send my friend. The Loan Amortization
calculators I've seen calculate everything out in advance based on a loan
payment that doesn't change either in amount or date paid. Is there a way to
modify one of those Amortization templates to accept payment entries
one-by-one?
Thanks again for trying to help me with this. I'm very new to this.
--Shelley

For amortization, I just "google" the term and the result is '104,000 for
"Loan amortization calculator"'!!!
For simple monthly interest, just use 1/12 of the anual interest for the
loan amount then make simple substractions.
Have fun!

ARGH! See what I mean? Unless you understand how they are calculating the
interest, you can't create the template. And if you *can* calculate the
interest, you're probably in the wrong field.

--

JoAnn Paules
MVP Microsoft [Publisher]
Tech Editor for "Microsoft Publisher 2007 For Dummies"

You need to clarify two important information:
1. Is it revolving (no-end date) or amortizing (fixed time)
2. What kind of compounding interest? (simple at the end of the month or
daily compound)
You then can use specific formula built-in in Excel to do the calculation.
Good luck!

:

I've never used the term "straightforward" when it comes to calculating
interest.

You may need to create your own spreadsheet since you can't find a
template
that suits your needs.

--

JoAnn Paules
MVP Microsoft [Publisher]
Tech Editor for "Microsoft Publisher 2007 For Dummies"



Hi-
I'm looking for a statement form for a loan repayment. This should be
in
a
four-column format, like this: I want to be able to enter in one column
the
amount that I pay toward the loan, the next column calculates the
principal
paid and another column caculates the interest (at 4%) paid and the
last
column caculates what the remaining balance is.
I want to be able to send this to my creditor as a statement each month
as
our record of where the account/loan stands. I've looked everywhere,
but
I
can't find this straightforward-seeming template. Can someone please
point
me in the right direction? Thanks very much!

 

[RobertVA]

Thanks so much for taking the time to help me. What this is is a personal
loan from a friend at 4% per year. I'd like to calculale it exactly as a
bank would, that is starting with a loan amount, say $10,000. Payment #1 is
$1000. That would be $1000 split into principal and interest toward the
total. Payment #2 might be $1200, that would need to be broken down into
principal and interest on the previous remaining balance, etc.
I have found those many Loan Amortization schedules you are talking about
and that IS EXACTLY the type of calculation I want EXCEPT for this key
feature I need: I need to be able to enter different payment amounts each
month and keep a running total to send my friend. The Loan Amortization
calculators I've seen calculate everything out in advance based on a loan
payment that doesn't change either in amount or date paid. Is there a way to
modify one of those Amortization templates to accept payment entries
one-by-one?
Thanks again for trying to help me with this. I'm very new to this.
--Shelley

Normally any amount paid in excess of the payment listed on the
amortization table reduces the principal. Unfortunately, if the excess
amount isn't equal to the principal portions of following payment(s)
it's going to throw all the principal/interest figures off for the
remainder of the loan period. If your additional payment equals the
principal amount for the next payment the final payment will be made
(principal reduced to zero) a month earlier.

 

[Troi-Xanh]

All payment-calculators assume constant information so they can project the
future with the least interaction! Your needs are open-ended type, you have
to create the calculation yourself. But the process is simple on your case.

It would involve 7 columns (Date, Principal, Interest Rate, Payment,
Int.Paid, Pric.Paid, Balance) with basic calculations and look-up for some of
them. Number of rows depends on the size of principal and payments. With
personal worksheet, you can manipulate every cells to your likings.

Good luck!

Thanks so much for taking the time to help me. What this is is a personal
loan from a friend at 4% per year. I'd like to calculale it exactly as a
bank would, that is starting with a loan amount, say $10,000. Payment #1 is
$1000. That would be $1000 split into principal and interest toward the
total. Payment #2 might be $1200, that would need to be broken down into
principal and interest on the previous remaining balance, etc.
I have found those many Loan Amortization schedules you are talking about
and that IS EXACTLY the type of calculation I want EXCEPT for this key
feature I need: I need to be able to enter different payment amounts each
month and keep a running total to send my friend. The Loan Amortization
calculators I've seen calculate everything out in advance based on a loan
payment that doesn't change either in amount or date paid. Is there a way to
modify one of those Amortization templates to accept payment entries
one-by-one?
Thanks again for trying to help me with this. I'm very new to this.
--Shelley

For amortization, I just "google" the term and the result is '104,000 for
"Loan amortization calculator"'!!!
For simple monthly interest, just use 1/12 of the anual interest for the
loan amount then make simple substractions.
Have fun!

ARGH! See what I mean? Unless you understand how they are calculating the
interest, you can't create the template. And if you *can* calculate the
interest, you're probably in the wrong field.

--

JoAnn Paules
MVP Microsoft [Publisher]
Tech Editor for "Microsoft Publisher 2007 For Dummies"



You need to clarify two important information:
1. Is it revolving (no-end date) or amortizing (fixed time)
2. What kind of compounding interest? (simple at the end of the month or
daily compound)
You then can use specific formula built-in in Excel to do the calculation.
Good luck!

:

I've never used the term "straightforward" when it comes to calculating
interest.

You may need to create your own spreadsheet since you can't find a
template
that suits your needs.

--

JoAnn Paules
MVP Microsoft [Publisher]
Tech Editor for "Microsoft Publisher 2007 For Dummies"



Hi-
I'm looking for a statement form for a loan repayment. This should be
in
a
four-column format, like this: I want to be able to enter in one column
the
amount that I pay toward the loan, the next column calculates the
principal
paid and another column caculates the interest (at 4%) paid and the
last
column caculates what the remaining balance is.
I want to be able to send this to my creditor as a statement each month
as
our record of where the account/loan stands. I've looked everywhere,
but
I
can't find this straightforward-seeming template. Can someone please
point
me in the right direction? Thanks very much!

 

[Troi-Xanh]

I think I found the solution!

* Lauch Excel (I still use the Excel 2003 version)
* Type "loan payment" in the box on the top-right area ("type a question for
help) to search for Online Help.
I got "30 Results from Office Online"
Two templates fit to your concern are:
"LOAN AMORTIZATION SCHEDULE" and
"LOAN CALCULATOR WITH EXTRA PAYMENTS"
Click (each) to download the templates and experiment them. Both allow you
to enter extra payment amount as a fixed monthly payment for per each payment!

Have fun.

Thanks so much for taking the time to help me. What this is is a personal
loan from a friend at 4% per year. I'd like to calculale it exactly as a
bank would, that is starting with a loan amount, say $10,000. Payment #1 is
$1000. That would be $1000 split into principal and interest toward the
total. Payment #2 might be $1200, that would need to be broken down into
principal and interest on the previous remaining balance, etc.
I have found those many Loan Amortization schedules you are talking about
and that IS EXACTLY the type of calculation I want EXCEPT for this key
feature I need: I need to be able to enter different payment amounts each
month and keep a running total to send my friend. The Loan Amortization
calculators I've seen calculate everything out in advance based on a loan
payment that doesn't change either in amount or date paid. Is there a way to
modify one of those Amortization templates to accept payment entries
one-by-one?
Thanks again for trying to help me with this. I'm very new to this.
--Shelley

For amortization, I just "google" the term and the result is '104,000 for
"Loan amortization calculator"'!!!
For simple monthly interest, just use 1/12 of the anual interest for the
loan amount then make simple substractions.
Have fun!

ARGH! See what I mean? Unless you understand how they are calculating the
interest, you can't create the template. And if you *can* calculate the
interest, you're probably in the wrong field.

--

JoAnn Paules
MVP Microsoft [Publisher]
Tech Editor for "Microsoft Publisher 2007 For Dummies"



You need to clarify two important information:
1. Is it revolving (no-end date) or amortizing (fixed time)
2. What kind of compounding interest? (simple at the end of the month or
daily compound)
You then can use specific formula built-in in Excel to do the calculation.
Good luck!

:

I've never used the term "straightforward" when it comes to calculating
interest.

You may need to create your own spreadsheet since you can't find a
template
that suits your needs.

--

JoAnn Paules
MVP Microsoft [Publisher]
Tech Editor for "Microsoft Publisher 2007 For Dummies"



Hi-
I'm looking for a statement form for a loan repayment. This should be
in
a
four-column format, like this: I want to be able to enter in one column
the
amount that I pay toward the loan, the next column calculates the
principal
paid and another column caculates the interest (at 4%) paid and the
last
column caculates what the remaining balance is.
I want to be able to send this to my creditor as a statement each month
as
our record of where the account/loan stands. I've looked everywhere,
but
I
can't find this straightforward-seeming template. Can someone please
point
me in the right direction? Thanks very much!

 

[sfshel]

Thanks very much for all the great information!

I think I found the solution!

* Lauch Excel (I still use the Excel 2003 version)
* Type "loan payment" in the box on the top-right area ("type a question for
help) to search for Online Help.
I got "30 Results from Office Online"
Two templates fit to your concern are:
"LOAN AMORTIZATION SCHEDULE" and
"LOAN CALCULATOR WITH EXTRA PAYMENTS"
Click (each) to download the templates and experiment them. Both allow you
to enter extra payment amount as a fixed monthly payment for per each payment!

Have fun.

Thanks so much for taking the time to help me. What this is is a personal
loan from a friend at 4% per year. I'd like to calculale it exactly as a
bank would, that is starting with a loan amount, say $10,000. Payment #1 is
$1000. That would be $1000 split into principal and interest toward the
total. Payment #2 might be $1200, that would need to be broken down into
principal and interest on the previous remaining balance, etc.
I have found those many Loan Amortization schedules you are talking about
and that IS EXACTLY the type of calculation I want EXCEPT for this key
feature I need: I need to be able to enter different payment amounts each
month and keep a running total to send my friend. The Loan Amortization
calculators I've seen calculate everything out in advance based on a loan
payment that doesn't change either in amount or date paid. Is there a way to
modify one of those Amortization templates to accept payment entries
one-by-one?
Thanks again for trying to help me with this. I'm very new to this.
--Shelley

For amortization, I just "google" the term and the result is '104,000 for
"Loan amortization calculator"'!!!
For simple monthly interest, just use 1/12 of the anual interest for the
loan amount then make simple substractions.
Have fun!

:

ARGH! See what I mean? Unless you understand how they are calculating the
interest, you can't create the template. And if you *can* calculate the
interest, you're probably in the wrong field.

--

JoAnn Paules
MVP Microsoft [Publisher]
Tech Editor for "Microsoft Publisher 2007 For Dummies"



You need to clarify two important information:
1. Is it revolving (no-end date) or amortizing (fixed time)
2. What kind of compounding interest? (simple at the end of the month or
daily compound)
You then can use specific formula built-in in Excel to do the calculation.
Good luck!

:

I've never used the term "straightforward" when it comes to calculating
interest.

You may need to create your own spreadsheet since you can't find a
template
that suits your needs.

--

JoAnn Paules
MVP Microsoft [Publisher]
Tech Editor for "Microsoft Publisher 2007 For Dummies"



Hi-
I'm looking for a statement form for a loan repayment. This should be
in
a
four-column format, like this: I want to be able to enter in one column
the
amount that I pay toward the loan, the next column calculates the
principal
paid and another column caculates the interest (at 4%) paid and the
last
column caculates what the remaining balance is.
I want to be able to send this to my creditor as a statement each month
as
our record of where the account/loan stands. I've looked everywhere,
but
I
can't find this straightforward-seeming template. Can someone please
point
me in the right direction? Thanks very much!