Amortization Question

[mrgreek]

Hi everyone,

This is more of a math question, then necessarily an excel question - bought thought i'd give it a shot. On building an amortization table - Mortgage for $100,000, 25 years amort. 3.0% interest rate, semi-annual compounding, payment is accelerated bi weekly. I'm able to get the payment per period, but what interest rate is used per period. In other words, in the amortization table, what is the formula for calculating the bi weekly accelerate interest portion of the payment...

=(beginning principal)*(x)

The way I've done it is giving me too high of a number for the interest column...

Thanks

[ben_hensel]

what does x stand for?

[mrgreek]

Its the question that I am asking... what should x be for the individual accelerate bi weekly calculation?

[FDibbins]

Try doing a search in excel help, on "financial calc", there are a bunch of dedicated financial calcs in excel

[mrgreek]

I did... and didn't find anything that is specific to semi-annual compounding and how the interest rate applicable for that period is re-adjusted.

[ben_hensel]

Would the official excel amortization schedule template help you out?

[mrgreek]

maybe... if i could see how column H is being calculated (which i believe is still a bit wrong, but closer to the "right" answer than i was getting before)

any idea on how to unlock that part of the spreadsheet?

[mrgreek]

now that i unlocked it... i dont think they are doing the math right in column H