Hi!!
Need some help. I have an amortization table for a loan. The rate can be variable with the option for lump sum payments. When a lump sum payment is made, I need the payments to stay the same with the end result being the loan is just paid off faster.
Here is my calculation:
=-PMT(D25/12,COUNT(A25:$A$95),C25)
D25 is the rate of the loan
The count is used to determine the cumber of payments for the variable rate. If the rate changes, the payment will go up or down based on the rate change.
C25 is the balance of the loan for that period.
Maybe I've done this all wrong, but it's working great....except for the fact I can't add in a lump sum payment and keep my payment amounts the same.
HELP!!! Hahaha.
Need some help. I have an amortization table for a loan. The rate can be variable with the option for lump sum payments. When a lump sum payment is made, I need the payments to stay the same with the end result being the loan is just paid off faster.
Here is my calculation:
=-PMT(D25/12,COUNT(A25:$A$95),C25)
D25 is the rate of the loan
The count is used to determine the cumber of payments for the variable rate. If the rate changes, the payment will go up or down based on the rate change.
C25 is the balance of the loan for that period.
Maybe I've done this all wrong, but it's working great....except for the fact I can't add in a lump sum payment and keep my payment amounts the same.
HELP!!! Hahaha.
