S
swiftiie
To anyone out there!!!
This is a little complicated (and maybe a bit personal), but I need
help in working out formulas for an excel worksheet.
I have a personal loan of $12,000 (at an interest rate of 10.4% per
annum) which my partner is paying out. However, I have nominated my
bank to deduct $800 per fortnight to finance this loan and my partner
pays me whenever he can.
I would like to keep track of everything - the balance, interest, my
repayments, and what my partner owes me.
I know how to set up the first 4 columns for the
date/balance/interest/my repayments, but it doesn't coincide with my
bank statments. I think this is because interest is calculated daily
but added monthly. Is there a formula to relate to this, rather than
the interest added to the principle on a daily basis?
Also, I'd like to work out how much my partner owes me. For example, if
I pay $800 fortnightly and he gives me $500 in the first week and
another $500 in the second week, then that means he owes me a total of
$600. Is there a formula to add this automatically rather than me
working it out all the time?
Please help!!!
My experience is only average with excel, so please reply in laymen
terms
Thanks!!!
This is a little complicated (and maybe a bit personal), but I need
help in working out formulas for an excel worksheet.
I have a personal loan of $12,000 (at an interest rate of 10.4% per
annum) which my partner is paying out. However, I have nominated my
bank to deduct $800 per fortnight to finance this loan and my partner
pays me whenever he can.
I would like to keep track of everything - the balance, interest, my
repayments, and what my partner owes me.
I know how to set up the first 4 columns for the
date/balance/interest/my repayments, but it doesn't coincide with my
bank statments. I think this is because interest is calculated daily
but added monthly. Is there a formula to relate to this, rather than
the interest added to the principle on a daily basis?
Also, I'd like to work out how much my partner owes me. For example, if
I pay $800 fortnightly and he gives me $500 in the first week and
another $500 in the second week, then that means he owes me a total of
$600. Is there a formula to add this automatically rather than me
working it out all the time?
Please help!!!
My experience is only average with excel, so please reply in laymen
terms
Thanks!!!