formula to calculate savings from paying loan off sooner

  • Thread starter Thread starter Guest
  • Start date Start date
G

Guest

a formula to calculate the amount of money saved in interest payments if the
loan was paid off after one year, two years, etc..
 
mason said:
a formula to calculate the amount of money saved in interest payments if the
loan was paid off after one year, two years, etc.
Click to expand...

That depends on the type and specification of the loan. It might also
depend on the jurisdiction of the loan. For example, the computation
for Canadian mortgages can be very different.

For a typical US loan with monthly payments and no balloon payment, the
CUMIPMT() function might give you what you want. See Help > Excel Help
for detail

If not, please post back with particulars.
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Similar Threads

CUMIPMT 0
Credit Score 5
Help to create amortization schedule 0
need a loan payment schedule 3
EXCEL problem- mortgage 0
Calculate Loan Term 1
loan amortization 2
Calculate Interest Paid w/ Additional Payments to Principle 2

Back
Top