C
C4nt
Hi everyone, I was wondering if anyone can help me out with this.
I have a loan and wanted to do a spreadsheet to keep an eye on
everything. I've looked everywhere for one that will suit me without any
luck.
I don't want anyone to bother making me one, just need the formula
really. Well heres what is included in the speadsheet:
I want the amount borrowed, the amount paid back and the remaining
balance with interest. Problem here is the interest is '1% per month on
the reducing balance' So if I pay it all back in one month I wouldn't
get charged any interest! I can also pay back any amount I want,
whenever I want. But how the hell do you do a formula for this?
(this isn't totally necessary but I would like it to automatically
change each month when the interest is added on the remaining balance,
wether i pay anything back or not.)
Want it to look a bit like this, so everytime I pay some money back I
add it on a new line and excel calculates the remaining balance with
interest and the total interest i've paid back.
PAID BACK\ DATE\ REMAINING BALANCE WITH INTEREST\ TOTAL INTEREST
PAID
1 £20.00 01/01/07 £200.00 £2.97
2
3
4
5
6
7
8
ETC
Any help will be great
C4nt
I have a loan and wanted to do a spreadsheet to keep an eye on
everything. I've looked everywhere for one that will suit me without any
luck.
I don't want anyone to bother making me one, just need the formula
really. Well heres what is included in the speadsheet:
I want the amount borrowed, the amount paid back and the remaining
balance with interest. Problem here is the interest is '1% per month on
the reducing balance' So if I pay it all back in one month I wouldn't
get charged any interest! I can also pay back any amount I want,
whenever I want. But how the hell do you do a formula for this?
(this isn't totally necessary but I would like it to automatically
change each month when the interest is added on the remaining balance,
wether i pay anything back or not.)
Want it to look a bit like this, so everytime I pay some money back I
add it on a new line and excel calculates the remaining balance with
interest and the total interest i've paid back.
PAID BACK\ DATE\ REMAINING BALANCE WITH INTEREST\ TOTAL INTEREST
PAID
1 £20.00 01/01/07 £200.00 £2.97
2
3
4
5
6
7
8
ETC
Any help will be great
C4nt