I am giving a loan with a large initial disbursement, and then once certain contingencies are met, there are other disbursements. Payments won't start until next year, and then will be quarterly. (The assumption is that all the disbursements will happen before payments start.) I am trying to figure out the formula that will calculate the interest and the payments:
Total of $280,000
First disbursement: $150,000
Contingency One: $30k disbursement
Contingency Two: $20k
Contingency Three: $20k
Contingency Four: $20k
Contingency Five: $40k
The interest rate is 7%, accrued monthly.
Quarterly payments will start in March of 2011.
I know the date of the first disbursement, but not the dates of the subsequent disbursements.
Any help with be much appreciated. And, by the way, if you know of any way to do this, please don't hesitate to respond. Even an inelegant way is better than where I am today. Thank you!
Total of $280,000
First disbursement: $150,000
Contingency One: $30k disbursement
Contingency Two: $20k
Contingency Three: $20k
Contingency Four: $20k
Contingency Five: $40k
The interest rate is 7%, accrued monthly.
Quarterly payments will start in March of 2011.
I know the date of the first disbursement, but not the dates of the subsequent disbursements.
Any help with be much appreciated. And, by the way, if you know of any way to do this, please don't hesitate to respond. Even an inelegant way is better than where I am today. Thank you!
