fixed principal amortization schedule excel

My current schedule suggests that it can be paid off with a fixed payment of $201.58 each month.

The schedule would have to add the account fee of $5 each month and only apply payments toward the interest until that interest is completely paid off. If my client wishes to pay their balance off in a fixed monthly payment schedule of 48 months, how would I use excel to create this payment schedule.

Interest is 1% on the principal balance accruing each month along with the account fee.An account fee of $5.00 is added to the principal each month.All payments apply to interest first that has already accrued first (it doesn't apply to the principal until the interest is paid).

I have learned how to create an excel amortization schedule (something you might use for a car loan) but I need to figure out how to create a payment schedule for clients who have already accrued interest (a delinquent balance) with the following conditions: I am not an accounting major but I do a lot of account-related (ledger) math for my job. They are identifiable with a special user flair.Ī community since MaAsking a question? Describe if you are using Excel (include version and operating system!), Google Sheets, or another spreadsheet application. Occasionally Microsoft developers will post or comment. Recent ClippyPoint Milestones !Ĭongratulations and thank you to these contributors Date Include a screenshot, use the tableit website, or use the ExcelToReddit converter (courtesy of u/tirlibibi17) to present your data. NOTE: For VBA, you can select code in your VBA window, press Tab, then copy and paste that into your post or comment. To keep Reddit from mangling your formulas and other code, display it using inline-code or put it in a code-block This will award the user a ClippyPoint and change the post's flair to solved. OPs can (and should) reply to any solutions with: Solution Verified Only text posts are accepted you can have images in Text posts.Use the appropriate flair for non-questions.

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Fixed principal amortization schedule excel