1. Amortization (Excel 2002 XL)

Hi again, I have one more problem spreadsheet if anyone is willing to assist. I have to formulate cells B8:187, C8:187 and D8:187 to reflect the decreasing amount owed for this loan. All amounts are in the sheet attached.
Thanks again all,
LuceeLou

2. Re: Amortization (Excel 2002 XL)

Are we doing your homework for you?

The IPMY and PPMT formulas should refer to the fixed principal in B3, not to the balance in column D.
The balance is calculating by subtracting the "Toward Principal" amount from the previous balance; don't subtract the "Toward Interest" amount too!

In B8: =IPMT(\$B\$4/12,A8,\$F\$3*12,-\$B\$3)
In C8: =PPMT(\$B\$4/12,\$A8,\$F\$3*12,-\$B\$3)
In D8: =D7-C8

Select B88, then double click the fill handle (the black square in the lower right corner of the selection) to fill down. You'll see that the balance in row 187 is 0.

3. Re: Amortization (Excel 2002 XL)

Yes sir. and I appreciate the assist. Been working with it all night (2:30a here)
I will work with what you have given me graciously.
Thank you 1000 *
<img src=/S/ribbon.gif border=0 alt=ribbon width=15 height=15>
LuceeLou

4. Re: Amortization (Excel 2002 XL)

I can see where I went wrong. I hope to be able to give in the future.
Thank you again. You are truly awesome!

LuceeLou

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