You can just set the payment equal to the monthly payment for all months in the first year, delete the formula in the months where payment isn't required - then copy that block of formulas down through the amortization period.You can get fancy, and set up a table of which months are payment months, and which aren't and do some sort of lookup on that table for each month, or.Payment = monthly payment, in the months where it is made.Interest = stated rate * opening balance / 12 (unless you are charging interest on the actual number of days outstanding.).Opening Balance = prior month closing balance (except in "month 1," where it equals loan principal). ![]() These will have the normal calculations in them: ![]() Start with a pretty typical amortization schedule: cells above the table for principal, interest rate, and (monthly) payment in the months it is made), and columns for
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