Cant make it work

[Bama_Buc]

I really need help with EXCEL. Here is what I want to do!

I want it set up so I can have my credit card balances in one column,
the APR in column 2, column 3 figure out minimun payment, column 4 is
what i actually pay, and column 5 figure my new balance.

Now my question is one is this possible? and 2 how do I go about making
this happen?

 

[SteveW]

A2 = 1000.00
B2 = 10% (this is annual interest rate - not exactly the APR)
C2 = (A2 * (B2/12))
D2 = A2 - C2

Remember C2 only gives Interest due
if Minimum monthly payment is 10 then formula should change to this
C2 = IF( (A2*(B2/12))<10, 10, (A2*(B2/12)) )

You may need to have a a column for the Minimum payment, which may
be different for different cards.


Steve

 

[Guest]

This is standard laon calculations. Search the net for loan calculator
spreadhseets. Bet you can find one to download and havel all you need in it.