APR calculation

[amanda]

Hi,

I hope someone can help me with this one. I need a
formula that will calculate the monthly interest if i have
the following data:

Loan value (£) : Loan term (years) : APR (%)

Would appreciate any advice.

Thanks

Amanda

 

[M. lane]

Check out Microsoft personal finance:

: http://makeashorterlink.com/?Q50E236F5





Hi,

I hope someone can help me with this one. I need a
formula that will calculate the monthly interest if i have
the following data:

Loan value (£) : Loan term (years) : APR (%)

Would appreciate any advice.

Thanks

Amanda

 

[amanda]

Hi,

I can't see where there is a relevant formula. Could you
be more specific please?

Thanks

Amanda

 

[M. lane]

http://office.microsoft.com/templates/preview.aspx?AssetID=TC062062871033&CT
T=4&Origin=CT062100581033&CategoryID=CT062100581033

You fill out the info at the top; loan years, interest, loan amount and
start date.
the sheet will calculate monthly payments, show what part of the payment is
principal and interest and show the total cost of the loan.


Hi,

I can't see where there is a relevant formula. Could you
be more specific please?

Thanks

Amanda

 

[M. lane]

You may need to cut -n- paste the whole link into your browser to make it
work or use this to get there:

http://makeashorterlink.com/?Q42F326F5

 

[Bernard V Liengme]

Hi Amanda,
See Help for details on function PMT - the monthly payment of a loan.
If amount, years and ARP are in B1:B3 them =PMT(B3/12,B2*12,B1) gives
monthly loan payment. It will show as a negative amount - money going out.
use -=PMT(B3/12,B2*12,B1) or =PMT(B3/12,B2*12,-B1) to get positive value.

To find how much of the payment goes towards interest use the IPMT function.

Come back if you need more.
Bernard

Hi,

I hope someone can help me with this one. I need a
formula that will calculate the monthly interest if i have
the following data:

Loan value (£) : Loan term (years) : APR (%)

Would appreciate any advice.

Thanks

Amanda

 

[M. lane]

Oops,
Maybe if I woke up before I started trying to help I would probably
understand the question.
You were not looking for a "template" to do the job for you which is what I
linked to, but were wanting to know the formula to do it yourself. Sorry for
the misunderstanding and not being able to help.


Hi,

I can't see where there is a relevant formula. Could you
be more specific please?

Thanks

Amanda

 

[Andy Wiggins]

This file might be a help:
http://www.bygsoftware.com/examples/zipfiles/Loan_Calculator.zip
It's in the "Accountants" section on page:
http://www.bygsoftware.com/examples/examples.htm

This workbook includes two worksheets that can help you calculate the likely
repayments you will have to make on mortgages and personal loans (including
HP and conditional sale agreements).

It refers to the APR by its more traditional accounting name, the "Internal
Rate of Return" or IRR.

--

Regards
Andy Wiggins
www.BygSoftware.com
Home of "Save and BackUp",
"The Excel Auditor" and "Byg Tools for VBA"


Hi,

I hope someone can help me with this one. I need a
formula that will calculate the monthly interest if i have
the following data:

Loan value (£) : Loan term (years) : APR (%)

Would appreciate any advice.

Thanks

Amanda