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Loan with Increasing Lump Sum Payments

  1. #1
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    Loan with Increasing Lump Sum Payments

    One thing I find frustrating about loan calculators is that it asks you how much you can pay a week/month towards your loan and then it calculates how long the loan period will be. But in reality (and I know I am making an assumption here) is that your earning power will increase let's say with inflation. So yes I might be able to put $500 a week towards a loan in 2015 but in 2016 I might be able to pay $515 a week and therefore reducing the loan period. How in Excel could I chart this? I am familiar with the nper function but it only takes a static payment amount to work out the loan length. How can I find out the remaining loan period at different time intervals based on increasing payments?

    Thanks in advance!

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    Re: Loan with Increasing Lump Sum Payments

    instead of rebuilding the wheel so to speak
    this website has numerous free templates
    http://www.vertex42.com/Calculators/...lculators.html

    im sure you can find something there you can use or base off
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    Re: Loan with Increasing Lump Sum Payments

    Hi humdingaling, thanks for your help. I checked out those tools and while they are good, it's a bit too full on. I am not overly interested in a solution but more so knowing the function method for achieving what I want as then I can branch this knowledge into other areas. Those tools have so many inputs and so much going on it's hard to know how it's actually working.

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    Re: Loan with Increasing Lump Sum Payments

    a lot of the inputs are actually required fields
    without them its hard to even start
    loan amount
    term
    annual interest rate
    majority of the inputs are to determine your monthly repayments

    i think what you are after is
    http://www.vertex42.com/ExcelTemplat...-schedule.html
    the additional repayments field would then be a calculated field instead of a manual input
    Last edited by humdingaling; 05-12-2015 at 12:43 AM.

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