Highline Excel Class 48: Interest Rates 6 Examples

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

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PLEASE DO NOT QUOTE THIS TABLE IMAGE ON SAME PAGE!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.

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?

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 dear VBA/ Excel community,

I`m writing a seminar in "Financial Modelling" and I definitely have problems at the moment with modelling my data. I`ve a data for stock prices for the whole month of January (around 1 048 567). Next to each stock price is the day of the month (so I`ve got 2 collumns for that). I`ve to match each one of these stock prices with the particular interest rate for the day (e.g., 15th January - 2.2).
For the interst rate I also have two collumns- one with the day and one with the interst rate. The whole data is in a one worksheet but in two tables. I`m not sure if they`ve to be in a separate worksheets and if I described that correctly in the VBA model. I think that`the part where I did everything wrong.
It would be great if you could help because I`m not so experienced with VBA. Thanks a lot in advance to all of you guys!!

Here`s my try to formulate the VBA code for the problem.....feel free to correct the mistakes you see in it :-)

Code:

Sub InterstRate()
Worksheets(1).Activate
Dim i, j As Integer
For i = 2 To 1048567
For j = 3 To 26
If Worksheets(1).Cells(i, 8) = Worksheets(3).Cells(j, 2) Then
Worksheets(1).Cells(i, 12) = Cells(j, 3)
End If
Next j
Next i
End Sub

Best regards,
Beni

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?

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

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?

Hi guys, I posted this a while ago and have asked everyone I know and I still can't work it out!! Is it even possible?

I am trying to work out the interest rate needed on a bank account in order to pay off a loan in the future.

I want to know the minimum interest rate to pay off the loan at a date which is variable without going into the overdraft when the loan is paid.

The attached spreadsheet is a simplified document.

Many thanks in advance,

Alex