Mortgage amortization Template

  • Thread starter Thread starter Scott
  • Start date Start date
S

Scott

I have been using a mortgage amort. template that I
believe came with the excel software. May have been from
office 97 or something I'm not sure. Anyway, it works
great except that when I enter additional principal
payments(as a negative number), everything seems to
calculate correctly except the summary field called "total
paid". I think this number should equal the initial
amount borrowed plus the total interest paid. And it does
calculate correctly in cases where additional principal
payments are not entered, but when an additional principal
payment is entered it is throwing it off. I was wondering
if anyone is familiar with the template, and if not if I
could get some help adding the additional payment into the
formula in the summary "total paid" field.
Thanks for any help.
Scott
 
You need to subtract the extra payment along with the principal payment
before calculating the next month. Lots of ways to do that. Easiest would
probably be with an additional column for extra payments and then adjust the
formula for that col.
 
-----Original Message-----
You need to subtract the extra payment along with the principal payment
before calculating the next month. Lots of ways to do that. Easiest would
probably be with an additional column for extra payments and then adjust the
formula for that col.

--
Don Guillett
SalesAid Software
(e-mail address removed)



.
Don. Would you be willing to look at this if I send it
Click to expand...
to you?
 
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