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Similar Helpful Excel Resources
See how to calculate the Interest Rates for Pay Day Loans. See how to calculate the Period Rate, the Number of Compounding Periods in a year, and the APR and EAR for a Pay Day Loan.
See a problem with the EFFECT function. Learn how to use the function help to find a solution.
Pay Day Loans will: Allow you to write a check that has a date 25 days in the future for $250 and will give you $200 today (they cash check in 25 days). What is the APR and EAR?
Nominal Rate APR Rate Annual Percentage Rate Effective Annual Rate.
In This Series learn 17 amazing Finance Tricks. Learn about the PMT, PV, FV, NPER, RATE, SLN, DB, EFFECT, NOMINAL, NPV, XNPV, and the CUMIPMT functions that can make your financing tasks much easier in Excel. See how to use the PMT function in the standard way, but also see how to use it while incorporating a Balloon payment or a delayed payment. Lean how to translate a Nominal interest rate into an Effective Interest rate. Learn how to calculate how long it takes to pay off a credit card balance. Lean how to calculate the Effect Rate on a Payday loan. And many more financing Tricks!!
The Excel Finance Tricks 1-17 will show an assortment of Excel Financing Tricks!
Excel Formula
I've been trying to figure out how to calculate finance charges on auto loans for over a month, and I still have yet to figure out how to make a formula work. Has anyone ever done this before? Auto loans calculate interest on a daily basis, so days to first payment come into account. I cannot seem to get a functioning formula. Any help would be really appreciated, or even a place to start. Here is some data I have to work with to build a formula:
contract date: 05/03/11
first pmt date: 06/17/11
Term: 60 months
Payment: 472.01
Interest Rate: 17.99
Amount Financed: 18453.57
And finally, I know that the finance charge for this loan is $9867.03. What I'm trying to do is calculate participation, which means I need to calculate what the finance charge would be at 15.99%, and so forth. All the information is there, I just can't seem to figure it out and I'm pretty frustrated at it. Now, I know that the actual interest rate is closer to 18.02% from my company loan calculator, but I can't get it perfect.
I am trying to calculate how to repay interest on several loans that were provided by one person over a 25 year period.
Example: Following are 2 loans showing the dates and amounts of each loan I received over the years. There are several others received thereafter at different dates. I would like to show all transactions on1 worksheet. with repayment amount for each loan plus interest (eg 2.5 compounded quarterly), & breakdown of original amount of loan, amount of accrued interest and total repayment amount. .
1. 8-15-1983 loan amount received=$23,000.00
2. 5-25-1986 loan amount received= $30,000.00
TOTAL: $53,000.00
1.How would I go about setting up a spreadsheet to illustrate above items?
2.What would be a fair way to account for the time value of those loans for each period to the deadline date of September 30, 2007?
Many thanks, Ron
I need to run an interest accrual report on some lines of credit. This is usually easy enough =(interest/365)*(Ending date of the accrual - beginning date of the accrual) * principle balance.
The problem that I am having though is that the lines of credit normally do not run through the entire accrual period. They are either issued in the middle of the period or expire in the middle of the period, and I just need the interest accrual for when they are active.
I was wondering what the easiest way to approach this problem would be.
A B C D
loan yrs Rate mth payment
420,000 30 5.625 $2,417.76
289,000 30 5.625 $1663.65
Etc Etc.... ?????
Need to be able to drag the cell and copy down to on D3,D4
and get the same fonta for all 100+ loans.
I can post a work sheet to help show what I'm looking for if needed.
Thansk
IR
I have to undertake a number of financial projections based on an actual annual interest rate where interest is added either daily or weekly. If I have an actual annual interest rate of 5% and divide it by 12 and then compound that figure I get an actual annual interest figure of 5.1162%.
I am therefore looking for a formula that will do this where the only information required is the actual annual interest rate and the number of compounding periods.
Any help would be appreciated.
Thanks in anticipation
Francis
Principal amount $100
interest amount $2
i need to repay $102 in 24 instalments
i want the function in excel to compute the interest rate for the computing
the interest rate one month so that the principal plus the interest for 24
months cumulates to $102
Guys,
Help please. I am trying to make up a simple mortgage calculator.
I have a very boring simple formulae - something like:
Value of property/300* interest rate.
ie Value of property / a repayment term of 25 years times by the interest rate.
The value I get back is incorrect.
Help!
Does Excel contain a simple interest loan calculation function built in? Or do I need to specify how exactly simple interest calculates on a per diem basis? What I am trying to do is calculate finance charge based on daily interest such as a standard auto loan contract. I am supplying the interest rate, term, and days to first payment - which in itself contains all of the necessary data for calculation (assuming excel has the loan calculation built in), however simple interest is based daily, so the calculation needs to understand days in each month, and totals days across a long period of time, and I seem to remember excel having basic loan calculation features built in, however general excel help only seems to have basic functions. What would be the best way to approach this?
I am trying to determine which formula in excel will allow me to calculate the interest rate for an annuity where I know the present value of the payments, the amount of each annual payment and the number of periods.
Any hints would be helpful.
How do I find the interest for the follwing information in excel?
Total Payments 60
Periodic payments 24,914.31
Total amount to be amort 1,494,858.60
I need to amort the total amount receiving the 24,914 a month for 60 months. What is the interest rate?
