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Compound interest

dotv4u

New Member
Greetings,
I'm having a difficult time creating a compound interest of $400000 loan with annual compound interest of 20% over 5 years with whatever the monthly payments that may be so one can know if there are no payments in any months how much is it still owed with the interest that needs to be paid up to date. Thank you
 
Hm, does this question really mean "what's the formula for calculating compound interest"? I mean, do you know how to make that calculation but don't know how to get Excel to do it? Or do you not know how to do it on a calculator either? The latter is what I suspect.

Let's start here: If you weren't asking Excel to do that calculation, just doing it on a calculator, what equation would you use?
 
I guess I don’t know how to setup those 60 payments on excel and if they miss any month how do they add up for the subsequent months.
I find it difficult to make
Not sure where to begin
Thank you
 
Yeah, sounds like this isn't an Excel question, just a math question. Let's take it off-line; contact me at robhbridges (it's a Gmail account) and we'll talk about interest calculations. This one isn't difficult, but the question of missed payments will add a wrinkle. Better make sure "Chandoo" is in the subject line somewhere so I don't miss it.
 
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