Hi all.
hope someone can help me with the issue i'm having in excel
Example: I have a mortgage of 85,000 Euros, my Payment plan started on 01/09/2016 and will end on 30/06/2025, I have a monthly payment of 550 Euros per month.
From 01/09/2016 up until end of April 2019 that's 32 months, which mean i have paid 17,600 euros per agreed payment plan ( 32*550=17,600 ).
I have made over payments by 6,050 Euros which brings the total amount to 23,650 Euros if we calculate that in months that would be a total of 43 months of 550 Euros payments,
(43*550=23,650), 43 months from 01/09/2016 comes up to 01/04/2020. which brings me to my question and issue I am having.
What method could i use to automatically update the months (01/04/2020) if I make A SINGLE payment of the minimum required of 550 Euros that date to update to (01/05/2020) or MULTIPLE payments of 550 Euros
I would really appreciate if anyone could formulate the method for this to work as i can not figure this out!!!
Many thanks in advance
hope someone can help me with the issue i'm having in excel
Example: I have a mortgage of 85,000 Euros, my Payment plan started on 01/09/2016 and will end on 30/06/2025, I have a monthly payment of 550 Euros per month.
From 01/09/2016 up until end of April 2019 that's 32 months, which mean i have paid 17,600 euros per agreed payment plan ( 32*550=17,600 ).
I have made over payments by 6,050 Euros which brings the total amount to 23,650 Euros if we calculate that in months that would be a total of 43 months of 550 Euros payments,
(43*550=23,650), 43 months from 01/09/2016 comes up to 01/04/2020. which brings me to my question and issue I am having.
What method could i use to automatically update the months (01/04/2020) if I make A SINGLE payment of the minimum required of 550 Euros that date to update to (01/05/2020) or MULTIPLE payments of 550 Euros
I would really appreciate if anyone could formulate the method for this to work as i can not figure this out!!!
Many thanks in advance