Question description:
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Could you create table with a compound interest of 5% monthly, If I input a capital it will automatically compute how much my borrower need to pay each semi monthly for the whole year.
Solved by I. W. in 22 mins
This is the chat thread from the real Excelchat help session. It contains no private user
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Excelchat Expert
04/05/2018 - 02:17
Hello
Welcome to Gotit pro,
your problem will be higly answered
here.
User
04/05/2018 - 02:17
thank you
Excelchat Expert
04/05/2018 - 02:17
May I ask if you have already a file or data?
User
04/05/2018 - 02:17
None so far
Excelchat Expert
04/05/2018 - 02:18
ok
Excelchat Expert
04/05/2018 - 02:18
base on your problem, do you want a table for compound interest right?
User
04/05/2018 - 02:19
yes exactly
Excelchat Expert
04/05/2018 - 02:19
ok, I will try on it first and will discuss you once done
User
04/05/2018 - 02:19
ok sure
Excelchat Expert
04/05/2018 - 02:20
do you want to display with this format?
User
04/05/2018 - 02:21
probably yes to easily check
Excelchat Expert
04/05/2018 - 02:21
ok :)
User
04/05/2018 - 02:23
could you also add additional column for the remaining capital per month? then make the month as semi monthly
Excelchat Expert
04/05/2018 - 02:23
ok this is noted
User
04/05/2018 - 02:23
but still the interest was based on a month
Excelchat Expert
04/05/2018 - 02:23
ok analyzing on it now :)
User
04/05/2018 - 02:23
thanks
Excelchat Expert
04/05/2018 - 02:29
Is it want you want to have?
User
04/05/2018 - 02:29
yeah thats looks great
User
04/05/2018 - 02:30
what was that the another column with the Principal Header?
Excelchat Expert
04/05/2018 - 02:30
oh that was your capital divided only into 24
Excelchat Expert
04/05/2018 - 02:31
since our table was payment for semi monthly for the whole year
Excelchat Expert
04/05/2018 - 02:31
in order to get the total payment per semi monthly we need to get that and add the interest
Excelchat Expert
04/05/2018 - 02:32
i made the interest as 2.5% since it was semi monthly, so it will be 5% for the whole month
User
04/05/2018 - 02:32
I see thanks it looks awesome
User
04/05/2018 - 02:33
does the table will change if I change the principal?
Excelchat Expert
04/05/2018 - 02:33
yes you may try it
User
04/05/2018 - 02:33
ok
User
04/05/2018 - 02:34
it was nice
Excelchat Expert
04/05/2018 - 02:34
thank you :)
Excelchat Expert
04/05/2018 - 02:35
payment there was the sum of the Pincipal coumn & the interest column
Excelchat Expert
04/05/2018 - 02:36
then for the Capital column, that was your remaining balance per semi monthly when we decrease the payment for the previous period
User
04/05/2018 - 02:36
yeah great I love this one
User
04/05/2018 - 02:36
I could i get this file?
Excelchat Expert
04/05/2018 - 02:36
you download it
Excelchat Expert
04/05/2018 - 02:36
just click the file
Excelchat Expert
04/05/2018 - 02:37
on the above tool
Excelchat Expert
04/05/2018 - 02:37
then download as
Excelchat Expert
04/05/2018 - 02:37
then select microsoft excel
User
04/05/2018 - 02:37
ok thank so much
Excelchat Expert
04/05/2018 - 02:37
no problem :)
Excelchat Expert
04/05/2018 - 02:38
Is there anything else you want to know regarding this issue?
User
04/05/2018 - 02:38
Nothing I'm good with this
Excelchat Expert
04/05/2018 - 02:38
great :)
Excelchat Expert
04/05/2018 - 02:38
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