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#1
10-12-2013, 03:31 AM
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Mortgage repayment calculations
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. 
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#2
10-12-2013, 07:21 PM
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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.
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#3
10-14-2013, 10:55 PM
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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]
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