Payment plan, with 2 accounts, paid in order

davfie

New Member
Joined
May 25, 2019
Messages
2
Hello! I am having a hard time doing this in excel, and variations of it::confused:

how can i calculate the monthly price i need to pay to pay down 2 accounts 2 0

where the 1st account is worth 2000 and has 0 percent interest

and the 2nd account is work 10,000 and has 5 percent compounting interest

but I must pay the 1st account down to 0 totally before I can pay the 2nd account down

and the payment amount must be an equal amount each month
 

Excel Facts

Control Word Wrap
Press Alt+Enter to move to a new row in a cell. Lets you control where the words wrap.
oh yes, I need to prove it 2 ways with 2 cases
case #1
1. assume we want to pay it down in 12 months

case #2
2. assume i can only pay 10 a month, how many months will that take
 
Upvote 0

Forum statistics

Threads
1,223,214
Messages
6,170,774
Members
452,353
Latest member
strainu

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