I am not a math person. I think I am way over my head here.
This is the problem:
Three people are paying school loans. There are several loans, each one with a different disbursement date. Each loan has an interest rate, of course. If interest is not paid it gets added to the principal.
I would like to set up an excel table that will allow me to do the following:
a. entering payments to the different loans indicating who made the payment
b. being able to enter more than one payment per month
b. keeping track of how much interest and principal each person has paid per loan and all loans combined
To me this seems very complicated. Perhaps it is not. If this entails a lot of work I am willing to pay somebody a reasonable amount. I am using excel 2010
Thanks in advance