HI,
I have no. of leases which I want to calculate the interest on reducing balance method based on the start date and end date for a specific period within the lease term. for each lease, I do not want to create a monthly schedule. Is there any formula where I can drive the interest value based on the reducing the balance method for a specific period?
I'm attaching a sample datasheet.
any help will be appreciated.
regards
aleem
I have no. of leases which I want to calculate the interest on reducing balance method based on the start date and end date for a specific period within the lease term. for each lease, I do not want to create a monthly schedule. Is there any formula where I can drive the interest value based on the reducing the balance method for a specific period?
I'm attaching a sample datasheet.
any help will be appreciated.
regards
aleem
Book1 - 2021-07-06T233853.913.xls | ||||||||||||||
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A | B | C | D | E | F | G | H | I | J | K | L | |||
1 | Period | Schedule Begin Date | Beginning Balance | Payment Amount | Interest Amount | Reduction Amount | Ending Balance | Cur Cod | ||||||
2 | 65134.43 | 65134.43 | USD | Amount | $ 65,134.43 | |||||||||
3 | 1 | 01-04-2021 | 65134.43 | 1500 | 271.39 | 1228.61 | 63905.83 | USD | Annual % | 5% | ||||
4 | 2 | 01-05-2021 | 63905.83 | 1500 | 266.27 | 1233.73 | 62672.1 | USD | Term in years | 4 | ||||
5 | 3 | 01-06-2021 | 62672.1 | 1500 | 261.13 | 1238.87 | 61433.23 | USD | Start Date | 01-03-21 | ||||
6 | 4 | 01-07-2021 | 61433.23 | 1500 | 255.97 | 1244.03 | 60189.21 | USD | Payment type: | End of the Period | ||||
7 | 5 | 01-08-2021 | 60189.21 | 1500 | 250.79 | 1249.21 | 58940 | USD | Payment frequency: | Monthly | ||||
8 | 6 | 01-09-2021 | 58940 | 1500 | 245.58 | 1254.42 | 57685.58 | USD | Interest Compounding Frequency: | Monthly | ||||
9 | 7 | 01-10-2021 | 57685.58 | 1500 | 240.36 | 1259.64 | 56425.94 | USD | ||||||
10 | 8 | 01-11-2021 | 56425.94 | 1500 | 235.11 | 1264.89 | 55161.04 | USD | ||||||
11 | 9 | 01-12-2021 | 55161.04 | 1500 | 229.84 | 1270.16 | 53890.88 | USD | Scheduled Monthly payment: | $ 1,500.00 | ||||
12 | 10 | 01-01-2022 | 53890.88 | 1500 | 224.55 | 1275.45 | 52615.43 | USD | Scheduled number of payments: | 48 | ||||
13 | 11 | 01-02-2022 | 52615.43 | 1500 | 219.23 | 1280.77 | 51334.66 | USD | Interest Rate(Per Period): | 0.004166667 | ||||
14 | 12 | 01-03-2022 | 51334.66 | 1500 | 213.89 | 1286.11 | 50048.55 | USD | ||||||
15 | 13 | 01-04-2022 | 50048.55 | 1500 | 208.54 | 1291.46 | 48757.09 | USD | ||||||
16 | 14 | 01-05-2022 | 48757.09 | 1500 | 203.15 | 1296.85 | 47460.24 | USD | ||||||
17 | 15 | 01-06-2022 | 47460.24 | 1500 | 197.75 | 1302.25 | 46157.99 | USD | Interest for period | |||||
18 | 16 | 01-07-2022 | 46157.99 | 1500 | 192.32 | 1307.68 | 44850.32 | USD | ||||||
19 | 17 | 01-08-2022 | 44850.32 | 1500 | 186.88 | 1313.12 | 43537.19 | USD | From Period | 01-04-21 | ||||
20 | 18 | 01-09-2022 | 43537.19 | 1500 | 181.4 | 1318.6 | 42218.6 | USD | to Period | 30-06-21 | ||||
21 | 19 | 01-10-2022 | 42218.6 | 1500 | 175.91 | 1324.09 | 40894.51 | USD | ||||||
22 | 20 | 01-11-2022 | 40894.51 | 1500 | 170.39 | 1329.61 | 39564.9 | USD | Interest amount | 1054.76 | <How do I get this value by formula | |||
23 | 21 | 01-12-2022 | 39564.9 | 1500 | 164.85 | 1335.15 | 38229.76 | USD | Without creating a monthly schedule | |||||
24 | 22 | 01-01-2023 | 38229.76 | 1500 | 159.29 | 1340.71 | 36889.05 | USD | ||||||
25 | 23 | 01-02-2023 | 36889.05 | 1500 | 153.7 | 1346.3 | 35542.75 | USD | ||||||
26 | 24 | 01-03-2023 | 35542.75 | 1500 | 148.09 | 1351.91 | 34190.85 | USD | ||||||
27 | 25 | 01-04-2023 | 34190.85 | 1500 | 142.46 | 1357.54 | 32833.31 | USD | ||||||
28 | 26 | 01-05-2023 | 32833.31 | 1500 | 136.81 | 1363.19 | 31470.11 | USD | ||||||
29 | 27 | 01-06-2023 | 31470.11 | 1500 | 131.13 | 1368.87 | 30101.24 | USD | ||||||
30 | 28 | 01-07-2023 | 30101.24 | 1500 | 125.42 | 1374.58 | 28726.66 | USD | ||||||
31 | 29 | 01-08-2023 | 28726.66 | 1500 | 119.69 | 1380.31 | 27346.36 | USD | ||||||
32 | 30 | 01-09-2023 | 27346.36 | 1500 | 113.94 | 1386.06 | 25960.3 | USD | ||||||
33 | 31 | 01-10-2023 | 25960.3 | 1500 | 108.17 | 1391.83 | 24568.47 | USD | ||||||
34 | 32 | 01-11-2023 | 24568.47 | 1500 | 102.37 | 1397.63 | 23170.84 | USD | ||||||
35 | 33 | 01-12-2023 | 23170.84 | 1500 | 96.55 | 1403.45 | 21767.38 | USD | ||||||
36 | 34 | 01-01-2024 | 21767.38 | 1500 | 90.7 | 1409.3 | 20358.08 | USD | ||||||
37 | 35 | 01-02-2024 | 20358.08 | 1500 | 84.83 | 1415.17 | 18942.9 | USD | ||||||
38 | 36 | 01-03-2024 | 18942.9 | 1500 | 78.93 | 1421.07 | 17521.83 | USD | ||||||
39 | 37 | 01-04-2024 | 17521.83 | 1500 | 73.01 | 1426.99 | 16094.84 | USD | ||||||
40 | 38 | 01-05-2024 | 16094.84 | 1500 | 67.06 | 1432.94 | 14661.9 | USD | ||||||
41 | 39 | 01-06-2024 | 14661.9 | 1500 | 61.09 | 1438.91 | 13222.99 | USD | ||||||
42 | 40 | 01-07-2024 | 13222.99 | 1500 | 55.1 | 1444.9 | 11778.09 | USD | ||||||
43 | 41 | 01-08-2024 | 11778.09 | 1500 | 49.08 | 1450.92 | 10327.16 | USD | ||||||
44 | 42 | 01-09-2024 | 10327.16 | 1500 | 43.03 | 1456.97 | 8870.19 | USD | ||||||
45 | 43 | 01-10-2024 | 8870.19 | 1500 | 36.96 | 1463.04 | 7407.15 | USD | ||||||
46 | 44 | 01-11-2024 | 7407.15 | 1500 | 30.86 | 1469.14 | 5938.02 | USD | ||||||
47 | 45 | 01-12-2024 | 5938.02 | 1500 | 24.74 | 1475.26 | 4462.76 | USD | ||||||
48 | 46 | 01-01-2025 | 4462.76 | 1500 | 18.59 | 1481.41 | 2981.35 | USD | ||||||
49 | 47 | 01-02-2025 | 2981.35 | 1500 | 12.42 | 1487.58 | 1493.78 | USD | ||||||
50 | 48 | 01-03-2025 | 1493.78 | 1500 | 6.22 | 1493.78 | USD | |||||||
Sheet1 |
Cell Formulas | ||
---|---|---|
Range | Formula | |
K2 | K2 | =+C2 |
K11 | K11 | =+D3 |
K13 | K13 | =+K3/12 |
K22 | K22 | =SUM(E3:E6) |