![]() |
#1
|
|||
|
|||
![]()
I want to compare the effect differing amounts of repayments will make to the length of my mortgage.
the calcs I have tried don't look right. If for instance the loan is say £70,000 and the interest rate is 5.4%, the basic repayment is around £360, but I want to compare how much quicker the loan can be paid off with various amounts of overpayment. |
#2
|
||||
|
||||
![]()
So what calc are you using, BritBiker, and in what way don't the results look right? You gotta give us something to work with.
|
#3
|
||||
|
||||
![]()
With the mortgage in A1, Annual Interest Rate as a % in B1, Monthly Instalment in C1, the formula for calculating the number of months to pay off the mortgage is:
=NPER(B1/12,-C1,A1,0,0) For your data, the result is 463.14 months.
__________________
Cheers, Paul Edstein [Fmr MS MVP - Word] |
![]() |
|
![]() |
||||
Thread | Thread Starter | Forum | Replies | Last Post |
How to do Calculations In a Text Box? | SteveF | Word | 4 | 09-27-2013 08:34 AM |
![]() |
BritBiker2 | Excel | 5 | 02-15-2013 04:19 AM |
![]() |
Jennifer_Falcon | Word VBA | 6 | 07-26-2011 10:49 AM |
![]() |
cubsfan_1 | Excel | 1 | 01-14-2010 06:55 PM |
![]() |
bgane | Project | 1 | 03-20-2006 06:36 AM |