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
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
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?
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?
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
Ok I have been playing with this for a couple of weeks now and have yet to come up with a formula that works.
A1 - Annual Interest Rate of Credit Card
A2 - Total Balance of Card
A3 - Minimum monthly payment
=ROUND(0.5+NPER((a1/12), a3*-1, a2),2)
I thought this would work, but I am getting a NUM error.
Any assistance. I would like to know two things. How many months until paid in full. How much interest would be paid.
I'm working on a credit card calculator spreadsheet that will show me how long it will take to pay down a balance by making the minimum payment only.
I have set up the following fields:
C37 is Account Balance
D37 is Minimum Payment Allowed
E37 is Minimum Payment Allowed by percentage (i.e. 2%)
F37 is Annual Interest Rate
G37 is Mo % Payment (how much of your payment goes to interest)
H37 is Amount to Balance (how much of your payment goes to principal)
I37 is Years to Payoff (How many years it will take to pay off your balance by making the minimum payment)
I'm having trouble with the last cell, I37, and getting the right code in. I can do it with the same constant minimum payment, but the problem is that the minimum payment will also be dropping as the balance drops, so my formula is not truly correct.
Any ideas on how to write the formula so that it will properly display the years to payoff? I think that I'll have to write some formulae in a few other "hidden" cells for the I37 formula to derive it's answers from. Any ideas?
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?
Hi everyone,
Ok so i have a spreedsheet with sheet1 K25 being a payment selection box,
I want to set up a warning that if credit card is selected pops up and says
" you have secected credit card are you sure this is correct?"
and give the person a yes or no option,
if they press yes it stays as it is
if they press no it clears the box so they can select again.
any ideas how i can do this?
thanks
Tony
This is the way I see my problem:
Australian credit card monthly statements require the borrower to repay a minimum AMOUNT against the statement (not a PERCENTAGE of the principal, as do overseas' credit cards), if he/she so wishes.
Furthermore, there is no time limit in which to repay the principal; therefore, this arrangement is an open-ended contract, which is designed to entice the borrower into doing nothing more that make interest repayments, until they die!
I am trying to construct a spreadsheet (to suit Australian conditions) that has columns for:
a. Payment Amount.
b. Cumulative Payments.
c. Interest.
d. Cumulative Interest.
e. Principal.
f. Cumulative Principal.
g. Principal Balance.
I have studied the book, John Walkenbach's "Microsoft Excel 2000 formulas" (and accompanying **) like the Dead Sea Scrolls, but I cannot construct a spreadsheet to suit Australian conditions (to my knowledge).
I know that this is a big ask, but can anyone direct me to a site where I can get such a spreadsheet, or offer any suggestions, please?
Regards,
Mick.
