If the number of periods of payments (years) changes, then this cannot help you unless it is revised completely (have to take into account payments already made and charges accrued already, potential penalties and so on). I think this is what you were looking for. You can of course manually put a value in the column Payment and the interest and subsequent payments will immediately be recalculated. G2: =-PMT($B$3,$B$4-D2+1,E2,0,0) (This is the 'meat' of the application)Īt this stage, you can drag the 4 formulas down till the last year of payment.
In the first line, there are specific formulas: The interest charges for each year and the payment is displayed.
In this example, I used a Principal amount of $ 2,000,000, rate of 11% and Period of 20 years with equal installments. You only have to make a few changes and change the number of rows for the number of years of payments: You can use this little customized "application" in excel.
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