J

#### jcooper

the beginning of the period. The problem is that principal doesn't

zero out at the end of the term. In fact, it overpays by a small

amount. Yet, when I calculate the same table on a financial calculator

which shows an amortization table, it zeroes out.

I'm guessing, but the problem seems to be with the future value. When

I make the future value "0", it zeroes out. My calculation includes a

balloon payout at the end of the term.

Any thoughts?

Under the Interest column per period, my formula looks like this:

IPMT(Annual Interest Rate/12, current period, # periods, - current

value, + future value (for a balloon payment at the end), 1 (to

indicate beginning of the period).

Under the Principal column per period, my formula looks like this:

PPMT(Annual Interest Rate/12, current period, # periods, - current

value, + future value (for a balloon payment at the end), 1 (to

indicate beginning of the period).

Essentially, both are the same except the name of the function.