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mortgage amortization formula
I have a mortgage amortized annually. Right now I have
the term at 15 years. But since I may use a 30 year term in some cases I have entered 30 rows to accomodate 30 years. So when I use 15 year term, balance becomes zero at end of 15th year, and then 16th year and beyond the balance shows as negative number, etc. everything is inverted. Is there a way to enter this so that if I have entry fields as follows: Borrowed amount: 150000 Term in years: 15 Rate: 5% that if I enter 15 years in the term field, the amortization schedule will stop at the 15th year? Thanks |
#2
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mortgage amortization formula
It is unclear how you are set up, but in your table, just check for a
negative value and show zero in f15 for example (assume payment to be subtracted is in F14 =max(F14-E15,0) Or use a formula that zeros the payment Regards, Tom Ogilvy "scott" wrote in message ... I have a mortgage amortized annually. Right now I have the term at 15 years. But since I may use a 30 year term in some cases I have entered 30 rows to accomodate 30 years. So when I use 15 year term, balance becomes zero at end of 15th year, and then 16th year and beyond the balance shows as negative number, etc. everything is inverted. Is there a way to enter this so that if I have entry fields as follows: Borrowed amount: 150000 Term in years: 15 Rate: 5% that if I enter 15 years in the term field, the amortization schedule will stop at the 15th year? Thanks |
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