Heya! I am pressing the F4 key, which locks cells in Excel/Sheets. Here is a link explaining more: edu.gcfglobal.org/en/excel-tips/absolute-references-with-the-f4-key/1/ . Hope this helps!
I've seen car loans with fixed anual payments on top of the installments to lower the installment payments, how do you calculate the installments for this types of loans?
Heya! I made a video a while back that explored making additional principal payments on top of the schedule, to reduce the loan term itself. To lower the repayments, this would be a restructured loan in New Zealand that often incurs a small fee. ua-cam.com/video/GBU-AkWXxL8/v-deo.html Alternatively, you could use this calculator and check at monthly installment #12 what the principal is at that point. You could then reinput the loan details into the calculator, however with a term of (n-12), and repeat this for the number of years the loan will run. Each time you rerun the numbers you'll see how the repayments would change. Hope this helps!
Thank you for this, it's wonderful! BUT I'm trying to figure out what I did wrong here? The rates show up properly descending in interest and ascending in principal amounts as you go down the columns, and ends with the final payment being almost all principal, just $3.72 in interest in the final payment, BUT the Principal column stays the same down the entire column, it does not descend in value as you go down the column, it stays at $79,200 all the way down. :-/ I'm having to type in the dollar signs instead of F4, perhaps I wasn't supposed to somewhere along the line? In one place (interest field A10) you said NOT to lock it for one of the values, so I tried it both with and without the dollar signs (left it without them, as shown on yours) and it didn't seem to make a difference. Yikes, I’m pretty sure I did exactly what you said, but I seem to have messed up somewhere. Any help is greatly appreciated! (Wish I could attach a screenshot!)
Why is "present_value" for the IPMT formula not B9 then carried down since the balance is decreasing? I know the way you show is correct, I'm just trying to understand it better. Thanks!
Heya! Sorry for the late reply. The formula has a component that looks at the 'instalment' number. So it automatically determines the variable nature of interest costs as the loan amortises. If I was doing a specific interest calculation between dates (e.g. rate/365 * running balance * days between periods), then I'd have selected B9 and dragged the formula down. Hope this helps!
![How to keep Inventory using an Excel Spreadsheet - [create your own Template]](http://i.ytimg.com/vi/msQoTuCsKJ4/mqdefault.jpg)
refreshingly straightforward yet very educational youtube video
Glad you found it useful!
so helpful! thank you! That felt empowering.
Glad it was helpful!
This took away my headaches, excellent.
Glad it was helpful!
Super helpful! Thank you so much for sharing the method
Glad it was helpful!
What button are you referring to at the 4:01 mark in cell C10? I cannot understand what you're using to lock the formula?
Heya! I am pressing the F4 key, which locks cells in Excel/Sheets. Here is a link explaining more: edu.gcfglobal.org/en/excel-tips/absolute-references-with-the-f4-key/1/ . Hope this helps!
I'm using my phone, so there are no hot keys. Just adding the $ as it appears in the video works though
@@BrentColeman Hello and thank you! But I have the same question, with a twist! I am using a chromebook and there is no F4 key. Help?
Heya! Just put dollar signs in front of the letter and number eg cell A1 can be locked by writing $A$1 without the need for the F4 key :)
@@BrentColeman You da best! 🙂
I've seen car loans with fixed anual payments on top of the installments to lower the installment payments, how do you calculate the installments for this types of loans?
Heya! I made a video a while back that explored making additional principal payments on top of the schedule, to reduce the loan term itself. To lower the repayments, this would be a restructured loan in New Zealand that often incurs a small fee. ua-cam.com/video/GBU-AkWXxL8/v-deo.html
Alternatively, you could use this calculator and check at monthly installment #12 what the principal is at that point. You could then reinput the loan details into the calculator, however with a term of (n-12), and repeat this for the number of years the loan will run. Each time you rerun the numbers you'll see how the repayments would change. Hope this helps!
Thank you for this, it's wonderful! BUT I'm trying to figure out what I did wrong here? The rates show up properly descending in interest and ascending in principal amounts as you go down the columns, and ends with the final payment being almost all principal, just $3.72 in interest in the final payment, BUT the Principal column stays the same down the entire column, it does not descend in value as you go down the column, it stays at $79,200 all the way down. :-/
I'm having to type in the dollar signs instead of F4, perhaps I wasn't supposed to somewhere along the line? In one place (interest field A10) you said NOT to lock it for one of the values, so I tried it both with and without the dollar signs (left it without them, as shown on yours) and it didn't seem to make a difference.
Yikes, I’m pretty sure I did exactly what you said, but I seem to have messed up somewhere. Any help is greatly appreciated! (Wish I could attach a screenshot!)
This is amazing, thank you!!
Glad it was useful!
thank you so much for this well detailed video
Appreciate the comment - glad you enjoyed it!
Why is "present_value" for the IPMT formula not B9 then carried down since the balance is decreasing? I know the way you show is correct, I'm just trying to understand it better. Thanks!
Heya! Sorry for the late reply. The formula has a component that looks at the 'instalment' number. So it automatically determines the variable nature of interest costs as the loan amortises.
If I was doing a specific interest calculation between dates (e.g. rate/365 * running balance * days between periods), then I'd have selected B9 and dragged the formula down. Hope this helps!
Good video. Could you do the solar power providers, pros and cons? Thanks
Thanks for watching! Do you mean a comparison of companies selling solar power hardware?
Great video! Appreciate it.
Glad it was helpful!
What if we have a payoff schedule we need to create without interest?
Follow the same process, but load the interest rate as 0%
Thank you
Glad you enjoyed it!
This was so helpful thank you
Glad it was useful!