In A1 enter the Amount (say 20,000)
In B1 enter the APR (say 12)
In C1 enter =B1/365.25/100 ( you will see 0.000336842 )
In A2 enter =A1
In B2 enter =A1*$C$1 and copy B2 down the column
In A3 enter =A2+B2 and copy A3 down the column
You will see:
20,000.00 12 0.000336842
20,000.00 6.736842
20,006.74 6.736842
20,013.47 6.739111
20,020.21 6.741381
20,026.95 6.743651
20,033.70 6.745921
20,040.44 6.748193
20,047.19 6.750465
20,053.94 6.752738
20,060.70 6.755012
20,067.45 6.757287
20,074.21 6.759562
20,080.97 6.761838
20,087.73 6.764115
20,094.49 6.766393
20,101.26 6.768671
20,108.03 6.770951
20,114.80 6.77323
20,121.57 6.775511
20,128.35 6.777793
20,135.13 6.780075
20,141.91 6.782358
20,148.69 6.784642
20,155.47 6.786926
20,162.26 6.789212
20,169.05 6.791498
20,175.84 6.793785
20,182.63 6.796072
20,189.43 6.798361
You now have a single lump payment table, good not just for the end of the
month, but for any number of days (avoiding concerns with short vs long
months). Column A gives the total to be repaid to you. For example
20,020.21 after three days.
Adjust A1 and B1 as you desire.
--
Gary''s Student - gsnu200725
"Andy" wrote:
[Quoted Text] > I need a very simple template or spread sheet to calculate interest on say a
> 20,000 loan to my son or daughter at 12% interest (12% might vary.) which
> must add the the daiy interest to the capital and give a monthly total
> interest for the month and the total amount due at the end of a month if it's
> all repaid on time at the end of the month...Phew.. sorry about..
>
> It may be that there are some standad template I can down load but it must
> be a loan out not what I'd have to repay if I borrowed the money...Not
> explained that well I'm afraid.
> --
> Ian D Anderson
|