Looking for a loan calc spreadsheet, one that if you make an extra payment, it will calculate into t

[SW Monkey]

Anyone have one of these? I would like one to use with my mortgage
and my car loan. I always pay a little extra each month, so I would
like to now what these payments will do in the long run.

THanks in advance.

 

[Jerry W. Lewis]

Make a simple loan amortization table. The following assumes that you
are not making extra payments, just paying extra on regularly scheduled
payments

- Put the loan amount in C1
- Put the annual interest rate in D1
- In D2 divide D1 by the number of payments per year (=D1/12 for monthly
payments)
- In A2 put =ROW()-1, as a payment counter (or some other payment ID
that might be more meaningful to you)
- In B2 put the scheduled payment amount (as a negative number), or
compute it as =PMT($D$2,n,$C$1), where n is the scheduled number of
payments (=yrs*12 for monthly payments)
- In C2 put =(1+$D$2)*C1+B2
- Copy A2:C2 down to fill n rows

The final balance in column C should be initially zero, but the balances
will update as you replace scheduled payments with actual payments.

Jerry

 

[Dave Peterson]

Microsoft shares lots of templates at:
http://officeupdate.microsoft.com/templategallery/

(look for loan on this link)
http://search.officeupdate.microsoft.com/TemplateGallery/ct139.asp

(you may be busy getting lots of templates.)