Excel Finance Trick 11: How Long Pay Off Credit Card Balance

I need a little help.
I'm trying to figure out how many payments are left on my credit card when I put a certain amount with the minimum payment. In the example I've linked to below:
I use $2000 as the balance.
Minimum payments are 2%.
I use 7% as the APR.
The Extra amount to put towards our balance every month is $100
The Finance Charge is your average daily balance (balance/365) multiplied by your APR. (I believe this is added to the card after the minimum payment, but I could be wrong here)
To get the average monthly number I just multiply that Daily Finance Charge by (365/12). I would love to be more exact there if all possible, but how? Some months have 30 days, some have 31 and yet Feb has 28/29 days?? Confusing! You can leave that out if you wish.

I have the balance that is left after all of that and by inserting that number into the balance of the next row, I can bring everything down the page until there is 0 left & count the rows, but how do I figure this with out bringing everything down the page? How do I put it all in one cell on the last column of the spreadsheet so that I can list different accounts on each row.
Good Luck! Thank you, Thank you, Thank you for the help!
CreditCardCalculation.xls
http://h1.ripway.com/wrellen/CreditCardCalculation.xls

I am looking for a template that will calculate how long it will take to pay
off my credit card based on a specific interest rate and a minimum repayment.
Most of the templates I have found have a field for "Period of Loan",
however, I cannot complete this field as there is no set loan period for
credit cards. It would also be helpful if I was able to add additional
payments and it calculted the earleir payout date.
--
Wayne C

I have loaned someone money and they are paying it back sporadically ( not on a set basis) they have agreed to pay a fixed interest on the current balance.

I have a speadsheet made up of the current balance and their past payments, but HOW do I set it up so it calculates interest on the current balance and updates this sum each month, but takes into account payments made at any time?

In essence, I need a calculation formula like the credit card companies use, but with a simple fixed interest rate calculated each month

all the posts I read are about paying off loans, not receiving them, so any help would be great

thanks

Does anyone know how to do a MOD-10 credit card number check in Excel 2000?
Is there a way to do it using a macro and Visual Basic?

Hi,
I am making a booking system for my college project and i want to create a dialog which will allow me to take credit card payments. The fields that there should be a

Credit card number
Name of card holder
Expiry Date

and also option buttons for card type.

Can you please help me with the code?

Thanks

I was hoping to be able to do a MOD-10 check on a credit card number in Excel
2000. If it can't be done in Excel itself, is there a macro that can be done
in Visual Basic that can run in Excel 2000?

Hi everyone,

I need to create a spreadsheet listing the current value of several public limited companies, i therefore need to pull information from balance sheets published online into Excel. I want to construct the spreadsheet in such a way that it updates itself when new reports are published so that it is always up to date.

I have managed to gather information such as the latest share price, market capital, 52 week high/low etc.. from the 'MSN moneycentral stock quotes' add-in, but do not know how to do a similar thing for balance sheet information.

I can't find balance sheet information on the companies that i am analysing on MSN money, but i can find it on Yahoo finance. Is there an Excel add-in that will allow me to pull this information in a similar way to the 'stock quotes' add-in? If not, is there any other way to do this?

Thanks in advance - any help or guidance will be much appreciated.

Hi folks - please help.

Would like to enter 1111222233334444 and have it return 1111-2222-3333-4444.

I've entered a customer format ####-####-####-#### but when I enter the 16 digits Excel changes the last digit to a zero. i.e. 1111-2222-3333-4440

Any ideas?

Does anyone know how to build an amortization schedule for a credit card.

For example

Say I have a mortgage loan, I can build an amortization schedule with:

loan amount
term
interest rate


Now I want to figure out when my credit card will be paid off

example:

Balance = 17,000
Rate = 14%

**** This is where I am confused - I don't have the term, because I want to find out when it will be paid off by making miminum payment)

or use a constant amount = 350 per month


thanks for any help

Josh

Hello everyone,
(This should be simple)
I'm trying to format the number input in a cell to appear as 0000 0000 0000 0000. (groups of four with spaces inbetween).
I am using custom formating and it seems to be working BUT the last digit is not right. For eg; i type 1234 5678 9123 4567 but it is coming up with 1234 5678 9123 4560. the last digit is changeing.
Why is this so?? can anyone help with this delema.