For example, if you make annual payments on a loan with an annual interest rate of 6 percent, use 6 or 0.06 for rate. You can supply it as a percentage or decimal number. 8.5%/12 but gives me different amounts for principal and interest (ipmt i did the same for) as to what I know the monthly payment is when trying to calculate using a daily compound formula. The syntax of the IPMT function in Excel is as follows: IPMT (rate, per, nper, pv, fv, type) Where: Rate (required) - the constant interest rate per period. Thanks for replying - is it therefore impossible to use the ppmt function in excel using a daily compound rate? The formula is PPMT(rate, per, nper, pv,, ) so for the rate I put in 8.5%/365. I've tried everything to create my own but I can create one for monthly compound but not for daily. I've calculated the monthly repayment but I can't find an excel formula that provides me with a breakdown of principal and interest on these monthly payments. Reducing balance method: Online calculator to check Interest and EMI for fixed interest loan and reducing balance loan - excel calculation is also shown. I'm after an amortization schedule for loans that has a daily compound interest added with a monthly repayment.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |