loan pay off formula

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

Guest

In my spread sheet I maintain a great deal of information regarding our
fleet, I would like a way for the spread sheet to automaticaly calculate the
payoff amount based on either "TODAYS" date or a date that I imput. Currently
I have set up the "LOAN CALULATOR" spread sheet for each loan and I have it
hyperlinked to the account number on the spread sheet but it still doesn't
give me the exact amount for that day with out doing a whole bunch of
additional calculations. I am just a fleet manager not an accountant so I
need all the help I can get
 
hi,
look up formulas in help

=CUMPRINC .. total principal payed today. Subtracte this
from loan amount to get balance due

=CUMIPMT ..total Intrest payed today

You will need information on the load. amount, terms,
intrest rate ect.
you may wish to set up a table for each loan.
 
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