I'm trying to build a debt repayment form in excel that is the same as the one found here since I haven't gotten a response back yet from the site owner about a downloadable version over the online one.
I've figured out how to build it for 12 months, but the 24 and 36 elude me. I'm not that sharp with excel, so I don't know a lot of the formulas or tools in it.
I may even have taken the long road on the 12 month formula, but I don't know.
Anyone know how I can build this? I've attached the document I'm building in, and I have some arbitrary figures in it currently. The 12 month is identical to the online form, but I'm always off by several dollars for 24/36....
Attachment 205992
Edit: I just tried the PMT function, and built the formula as a tut noted, and the figures are WAY off. Gail's way $1000 with 13% interest would cost $94.17 over 12 months to pay off (total of $1130.04), and the PMT function says $168.99/mth (totalling $2027.88). The PMT function is way way off. I took a loan a couple years ago for $1000 and it cost (at that time) $88/mth to pay back over 12 months, so the $94.17 looks to be right, not pay double...
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