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     Ken's Home Radio   Excel Calendar with World Clock

   

   Excel can be used just not for calendars or planners.  
It also comes into play when used as math tools
- in the financial management, among other things.

My spreadsheet shows how the PMT function* is used
to calculate the sum of payment, both monthly and total,
 for mortgage and other loans with  a given interest rate and terms.

"=PMT(5.77%, 30years, $100,000-)"  $584.84


     

"Mortgage terms are usually 15 or 30 years. 
The longer the term, the lower your monthly payment, 
but the higher your overall interest costs."
(
Mortgage Basics - Real Estate Guide
on Yahoo! Personal Finance
)

My spreadsheet can be used to calculate the "overall interest costs". 
Try the "Interest" sheet.

- March 2, 2007 -

@

"=PMT(5.70%, 30years, $100,000-)"  $580.40
    
- March 7, 2007 -

@


YouTube - Use Goal Seek in Excel to Structure Your Loan

Mortgage Payment Calculator with Goal Seek Function
    
- March 10, 2007 -

 Savings & Mortgage Payment Calculator with Goal Seek Function
    
- March 10, 2007 -


"The Quicker the Payback, the More You Save

If you take out a loan for a car, get the shortest payback time you can comfortably handle.
 While monthly payments can be reduced by stretching them out over more time,
only a lower interest rate, a smaller loan, or a shorter term will lower the total expense.

A $15,000 loan at 8% for five years, for example, will cost $3,240 in interest.
 You would save $672 if you paid an extra $62 a month for the same size loan
over four years. The total interest cost would drop to $2,568." 

( Financing a New Car - Loans Guide on Yahoo! Personal Finance)

    
My spreadsheet can be used to calculate the "total interest costs". 
- March 19, 2007 -





Microsoft Excel: Buying a Dream Car shows how to combine the practical skills
of making calculation of interest on the loan for a "dream car"
- "How much will my dream car really cost after financing?" -
with again the practical knowledge of the real value of that car sourced 
from the Internet to "determine if the ultimate price tag is really worth the investment". 

It elaborates the use of Excel for loan payments - an important factor 
in the process of integrated and intelligent decision making.
- May 9, 2007 -

     Monthly Credit Cards, Loans and Utility Payments on Bank Accounts

"If the day a repeating payment is scheduled falls on a weekend or bank holiday,
the payment will be processed the next business day."


- February 6, 2008 -

      
Excel Stock Chart 07/03/02
Google Calculator
Reference




Copyright (C) Ken Matsuoka