Excel For Finance Tips - Will interest rates go up or down ?

I have a mortgage loan $125,000 and I pay $300 off loan every two weeks, the fixed rate is 8.50%. I am locked in at this rate for next 24mths (2yrs).
The current variable rate is 6.25% and to break from the existing fixed rate contract will cost me $3,200.
Is there a formula in Excel that I can use to compare the two rates and loan amounts using the 2yr period?
i.e. $125,000 @ 8.50% for the next 2yrs with repayments of $300 every two weeks compared to
$128,200 @ 6.25% for the next 2 yrs with repayments of $300 every two weeks. Is it worth changing over?

Many thanks

Carl

Hi, I have one large file and I need to compute the final value of investing a particular amount based on the returns given by the stock market. I'm trying to figure out a way that I can compute the answer without going into cell after cell with the same kind of formula. The formula that I'm looking for is like the formula for a compound interest. I.e. Final value = P(1+r)^n. However, in my case, r is always changing and hence P is also changing as well. What I'm currently doing is typing the same kind of formula into each cell. For example to find the year-end value I input: 1000(1.05) then the next year, the year-end value is this: (1000)(1.05)(1.10), and the next may be (1000)(1.05)(0.96)...and so on....does anyone know of a simpler way to do this?

I have a spreadsheet of deposits made on a saving account. I need to compute the daily interest at the various interest rates, the same way the banks would compute the interest, which I think is compounded daily. It would be appreciated if someone could assist

Regards

Howard

******** ******************** ************************************************************************> Microsoft Excel - Bank Interest.xls ___Running: 12.0 : OS = Windows XP (F)ile (E)dit (V)iew (I)nsert (O)ptions (T)ools (D)ata (W)indow (H)elp (A)bout I8 I9 =
A B C D E F G H I 1                   2                 3                   4                   5                   6             Interest Rate table     7 DATE Advances Interest Cumulative Interest Int & Advances   Date Int Rate Max Period 8 18/08/2005 R 65,000.00         15/04/2004 9.00%           784  9 02/12/2006 R 25,000.00         08/06/2006 9.50%           189  10 21/01/2007 R 18,200.00         14/12/2006 10.00%   Sheet1  
[HtmlMaker 2.42] To see the formula in the cells just click on the cells hyperlink or click the Name box
PLEASE DO NOT QUOTE THIS TABLE IMAGE ON SAME PAGE! OTHEWISE, ERROR OF JavaScript OCCUR.

Interest charge always starts in August 1st following the year of assessment. E.g. for the year 2003 interest starts on 1st of August 2004 till today and so forth. Interest is calculated using days. A comprehensive schedule is found below.

Interest chage of 9,00% is applicable up to 31/12/2006
Interest charge of 8,00% starts from 1/1/2007 till 31/12/2009
And as from 1/1/2010 interest charge is 5,35%

As always, interest charge starts from 1st August following the year of assessment. eg. for year of assessment of 2004 interest chage starts from 1/8/2005 till today, for the year of assessment of 2007 interest starts from August 1st 2008 till today.

Can I incorporate all of the above calculations using a formula?

Year of assessment 2003 2004 2005 2006 2007 2008 Interest charge starts from: 1/8/2004 1/8/2005 1/8/2006 1/8/2007 1/8/2008 1/8/2009 Interest charge 9% tillΙ: 31/12/2006 31/12/2006 31/12/2006 31/12/2006 31/12/2006 31/12/2006 Interest charge 8% till:: 31/12/2009 31/12/2009 31/12/2009 31/12/2009 31/12/2009 31/12/2009 Interest charge 5,35% from: 1/1/2010 1/1/2010 1/1/2010 1/1/2010 1/1/2010 1/1/2010 Today date 10 Febr 2010 10 Febr 2010 10 Febr 2010 10 Febr 2010 10 Febr 2010 10 Febr 2010 Days interest 9% Days interest 8% Days interest 5,35%


Total interest up to date:

Thanks

Hi how you going... I am totally purplexed by the Consumer Credit Code in Australia which legislates that financiers must calculate an APR or Comparison Rate for a loan and was hoping someone out there might be able to help me understand it so I can put it in to Excel and have an on-going calculator...

Here goes:

The comparison rate must be calculated as a nominal rate per annum, together with the compounding frequency... it is given by the following formula:

i = n x r x 100%

whe

'n' is the number of repayments per annum to be made under the credit contract (annualised if the term of the contract is ledd than 12 months), except that
i) if repayments are to be made weekly or fortnightly - n is to be 52.18 or 26.09 respectively; and
ii) if the contract does not provide for a constant interval between repayments, 'n 'is to be derived from the interval selected for the purposes of the definition of 'j' mentioned below.

'r' is the solution of the following -


t
∑ Aj / (1+r)^j =
j=0
t
∑ Rj+Cj / (1+r)^j
j=0

where -

'j' is the time, measured as a multiple (not necessarily integral) of the interval between contractual repayments that will have elapsed since the first amount of credit is provided under the credit contract, except that if the contract does not provide for a constant interval between repayments an interval of any kind is to be selected as the interval of time

't' is the time measured as a multiple of the interval between contractual repayments (or other interval so selected) that will elapse between the time when the first amount of credit is provided and the time when the last repayment is to be made under the credit contract

'Aj' is the amount of credit to be provided under the credit contract at time 'j' (the value of 'j' for the provision of the first amount of credit is taken to be zero)

'Rj' is the repayment to be made at time j

'Cj' is the fee or charge (if any) payable by the debtor at time j in addition to the repayments Rj.

There may even be a gratuitous hug if you can help me solve it

Thank you,

Chris...

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 have a list of credit cards.On each line is name of company, interests rate,minimum payment etc. What I would like to do is automatically have it change so that the card with the highest interest rate is on top ascending to lower rate. what do I do. thanks

On Tuesday I did another refinance on my mortgage. This will break even in 4 years, but save $43,000 over the life of the 30 yr fixed loan. Of course that requires me to stay in the house that long.

So I've gotten a 4.375% Rate with 1.875 points 30 yr fixed. I am curious if that translates across the puddle. If so, what kinds of rates are available in your countries?

Bill issues!

Charge Interest Total
$1,698.36 $106.65 $1,805.01

I know the charge, the interest and the total and I know this interest was charged over a 24 day period.

A. How do I work out the interest rate?

B. and then apply this interest rate to a longer period of time, say I didnt pay it for 45 days, or 95 days, 327 days!

Thanks guys.

Cheers

Hello

Example:

I have a total investment of 500. The first 100 is at a rate of 4%, 101 to 200 is at 3% and the remaining balance is at 2%.

Anyone have a formula for this?