Model to calculate loan payments

mikeymay

Well-known Member
Joined
Jan 17, 2006
Messages
1,625
Office Version
  1. 365
Platform
  1. Windows
I have been trying to build a model that will calculate a monthly payment based on the following variable
  • Interest is calculated daily and compounded daily
  • The total interest accumulated over a quarter is added to the balance on the last day of the quarter
  • Payments are made monthly and need to be the same every month for the term of the loan
An example would be
Loan value = 300,000
Interest Rate = 7.1% per annum
Draw down date of 20th April 2018
1st monthly payment will be on the 19th May 2018
1st interest total added on 30 Jun 2018
Subsequent interest totals are added on 30 Sep, 31 Dec and 31 Mar

TIA
 

Excel Facts

Does the VLOOKUP table have to be sorted?
No! when you are using an exact match, the VLOOKUP table can be in any order. Best-selling items at the top is actually the best.
always worth a look around & see what others have created

This site for example :Free Loan Calculators by Vertex42
provides free examples you can download which you may be able to adapt to your particular need.

Dave
 
Upvote 0

Forum statistics

Threads
1,223,228
Messages
6,170,871
Members
452,363
Latest member
merico17

We've detected that you are using an adblocker.

We have a great community of people providing Excel help here, but the hosting costs are enormous. You can help keep this site running by allowing ads on MrExcel.com.
Allow Ads at MrExcel

Which adblocker are you using?

Disable AdBlock

Follow these easy steps to disable AdBlock

1)Click on the icon in the browser’s toolbar.
2)Click on the icon in the browser’s toolbar.
2)Click on the "Pause on this site" option.
Go back

Disable AdBlock Plus

Follow these easy steps to disable AdBlock Plus

1)Click on the icon in the browser’s toolbar.
2)Click on the toggle to disable it for "mrexcel.com".
Go back

Disable uBlock Origin

Follow these easy steps to disable uBlock Origin

1)Click on the icon in the browser’s toolbar.
2)Click on the "Power" button.
3)Click on the "Refresh" button.
Go back

Disable uBlock

Follow these easy steps to disable uBlock

1)Click on the icon in the browser’s toolbar.
2)Click on the "Power" button.
3)Click on the "Refresh" button.
Go back
Back
Top