Hello - you may find this is as much a finance approach question as it a tactical excel question. if you think it's better posted in a different forum, plz advise (with the name of said forum!). Tnx.
I’m trying to determine the value of interest that can be collected on the following transaction - in march 2008 a lump sum is lent out; $30,000. The party to whom the loan was made begins repaying with the following inconsistent cash flow:
• $10,000 in Dec, 2011
• $300 in June, 2013
• $750 in July, 2013
• $750 in Oct, 2013
• $750 per month Nov 2013 through March 2015, with a couple months each with double repayment ($1,500)
• $200 in April, 2015
• $750 in Jan, 2016
• $500 in Feb, 2016
• $750 in June, 2016
• $1,000 in Nov, 2016 This was the final payment, making whole the $30,000 in principal.
If interest accrual ends at that last payment, and want to apply the same rate, e.g., i = 10%, how would I determine the interest amount due? Even a rough result would be fine, it doesn't have to be exact down to the dollar.
Thx again
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