Home Mortgage Excel Help? - excel home loans
I have problems trying to decipher the formulas in a spreadsheet.
The information in the table include the price of home: $ 650,000 Deposit: 5% interest rate: 6% Term of loan: 360
The information that I found as follows: the amount of the deposit, the amount of the loan.
The only thing I understood the monthly payment, which came to $ 3897.08.
Thank you to everyone who can help me.
Monday, December 28, 2009
Excel Home Loans Home Mortgage Excel Help?
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1 comments:
They say that the initial payment of 5%, so 5% is of 650,000 is 32,500. This will encourage 650,000 to 32,500 = 617,500 pages so far the amount of the loan. The loan is 360 months or 30 years. Finally, the rate at 6%. Now you have enough information to use the PMT function in Excel. When entering these numbers, you will receive a monthly payment (principal and interest) of 3702.22, which is slightly smaller than the number that came up. Note that the interest rate is calculated using the formula in Excel, the monthly fee, 6% /'s 12th
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