Neil has attended:
Excel Advanced course
PMT
Is there a formula I can use to be able to show month on month how much a loan reduces and factor in any changes in interst rate, e.g. mortgage repayments?
RE: PMT
Hiya Neil hope you are well sorry we have not got back to sooner.
With regards to the PMT formula you can find one by using the function wizard from the insert menu and clicking function under the financial category.
But in saying that i can go one better than that because a template that you can simply enter in all the stats you will need eg: loan term, payments per year etc...
then the template does it for you and if anything changes you go back in and update the info and the template updates the rest
to find this template go to the your file menu and click new, from the window you see choose the spreadsheet solutions tab and then double click the Loan Amortization
When finished do a file save as
Hope this helps
Mark East
