Calculating number of periods when payment amount changes

  • Thread starter Thread starter Guest
  • Start date Start date
G

Guest

I'm working on a plan to pay off my mortgage early. Each year I plan to
increase the amount I am paying by a fixed amount. For example, this year I
will pay $800. Starting next year I will pay $850, the year after that, $900,
and so on.

I know the NPER function to calculate the number of periods given a rate,
fixed payment, and present value.

How can I calculate the number of periods required to pay off the loan when
the payment is changing, assuming the timing and amount of the change are
known?

Thanks for your help.
 
Don't know what the function might be, but why don't you just create an
amortization table and plug in the extra payments?
Col A - Period
Col B - Pymt()
Col C - Interest
Col D - Principal
Col E - ADDITIONAL PRINCIPAL PAYMENTS
Col F - New Mortgage Balance

HTH,
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Similar Threads

Calculate Loan Term 1
Calculate Interest Paid w/ Additional Payments to Principle 2
Amortization w/ variable interest rate 1
mortgage payment calculation 12
Saving for College 1
Excel How to create a Accounts Receivable to calculate days in which payments against invoice are received 0
number of periods function where payments(inflows) are not equal 1
FV function 2

Back
Top