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MS Office Forum / Excel / New Users / September 2004

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loan pay off formula

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Jonathan Wilner - 13 Sep 2004 00:43 GMT
In my spread sheet I maintain a great deal of information regarding our
fleet, I would like a way for the spread sheet to automaticaly calculate the
payoff amount based on either "TODAYS" date or a date that I imput. Currently
I have set up the "LOAN CALULATOR" spread sheet for each loan and I have it
hyperlinked to the account number on the spread sheet but it still doesn't
give me the exact amount for that day with out doing a whole bunch of
additional calculations. I am just a fleet manager not an accountant so I
need all the help I can get
- 13 Sep 2004 14:07 GMT
hi,
look up formulas in help

=CUMPRINC .. total principal payed today. Subtracte this
from loan amount to get balance due

=CUMIPMT ..total Intrest payed today

You will need information on the load. amount, terms,
intrest rate ect.
you may wish to set up a table for each loan.

>-----Original Message-----
>In my spread sheet I maintain a great deal of information regarding our
[quoted text clipped - 6 lines]
>need all the help I can get
>.
 
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