excel loan

  • Thread starter Thread starter pmalone
  • Start date Start date
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pmalone

I am looking for an excel loan tracker.The standard
amortization schedule is great but i need something that
allows you to track and enter payments daily. A payment
will be entered each weekday and i want it posted to the
schedule, calculated with additional principal applied
etc... It is a two year loan $8600.00 with daily payments
due of $20.00. Any ideas?
 
pmalone,

$20 daily payments for 2 years on a $8600 loan works out to an annual
percentage rate of almost 60%. The loan is illegal, so you'd be
better off contacting the authorities.

HTH,
Bernie
 

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