I have a large amount owed to me and the debtor has suggested a payment plan where he pays a monthly amount for a period of time and then the lump sum which is continuing to accrue interest during the repayment period. I want to be able to use a template if possible to input this, but all the ones that I see generate the loan payment amount and I cannot put this in. Can I not use the templates and build my own spreadsheet?
Any ideas?
For example, my loan amount is $50,000, the monthly payment is $500 for a year and the interest is 18%. How do I determine what the lump sum payment is at the end of the 12 months including interest using these templates?
thanks
Jo-Anne
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