Annual Payment Formula if Variable Interest Rate can change Monthl

[ND Pard]

I would like to prepare a Variable Monthly Rate 5 year (60 month)
Interest / Payment schedule.

The schedule will contain a record (row) for each of the 60 months
plus header rows for starting Principal Balance and Interest Rate
and related Column Headings etc.

Currently my schedule contains columns for:
Payment, Remaining Principle and Interest Rate.

Assume a $75,000 starting balance.

Assume a starting Interest Rate of 6.25%.

Payments will be ONLY be made once at the end of the year
(ie, the 12th month).

If the interest rate can be modified in any and all of the 60 periods,
what is the formula to change any unpaid payments to equal
amounts so the last payment pays off the balance?

Any help will be appreciated.

 

[sean harris]

I have the same question as you...yet i cant find any answers you received?



NDPar wrote:

Annual Payment Formula if Variable Interest Rate can change Monthl
10-Sep-08

I would like to prepare a Variable Monthly Rate 5 year (60 month)
Interest / Payment schedule

The schedule will contain a record (row) for each of the 60 months
plus header rows for starting Principal Balance and Interest Rate
and related Column Headings etc.

Currently my schedule contains columns for:
Payment, Remaining Principle and Interest Rate.

Assume a $75,000 starting balance.

Assume a starting Interest Rate of 6.25%.

Payments will be ONLY be made once at the end of the yea
(ie, the 12th month).

If the interest rate can be modified in any and all of the 60 periods,
what is the formula to change any unpaid payments to equal
amounts so the last payment pays off the balance?

Any help will be appreciated.

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[Otto Moehrbach]

You need to post your question in the same thread as the post to which you
are responding. HTH Otto