Loan Amortization

[Guest]

Is there a template for a loan with a varying interest rate? I have a loan
that changed rates after the first 3 years and am trying to find out what i
have paid and what i need to be paying? Any help would be great. thanks

 

[Guest]

ok.. maybe this will work:

=PPMT(first interest rate, number of payments made in 1st 3 years, total
number of payments needed to complete the entire loan, starting value of loan
at inception)

should get what you paid on the principal

Then, subtract this amount from your first principal, and use the same
formula, with the 2nd interest rate, number of payments until you are done
paying the loan goes in the 2nd and third spots, then value as calculated
above.

Hope that was what you needed.

 

[Guest]

Oh, I should mention, the value you get will be negative, as you are debiting
this payment from your checkbook.

 

[Guest]

Thank you very much. I really appreciate it and will let you know how it
goes.