Formula which splits principal & interest pmts on P&I Loan

[Guest]

I am creating a spreadsheet setting out loan repayments on a daily basis. I
need the formula that seperates the interest from the daily payments to allow
the principal reduction to occur?

 

[Bernard Liengme]

Copied fro Excel Help:

PPMT Returns the payment on the principal for a given period for an
investment based on periodic, constant payments and a constant interest rate

IPMT Returns the interest payment for a given period for an investment based
on periodic, constant payments and a constant interest rate. For a more
complete description of the arguments in IPMT and for more information about
annuity functions, see PV.

best wishes