Hi
Does anyone know what the formula is to put into the investment anaylist spreadsheet(downloadable from this site) to change the loan from P&I to interest only. All our investment loans are interest only until we pay off our own house and I would like to use the spreadsheet to simplify my calculations
Thanks
Debra[
]I think that I/O is fairly simple, it is just the amount borrowed times the interest rate.
eg $100,000 @ 6.5% = $6,500
I have an I/O loan and the interest is added at the end of every month.
From the above example for October the amount should be $6500/365*31 = $552.05.
This may not be 100% correct but should be close enough.
Dino
“If you don’t know where you are going, every road will take you there.”
Thanks Dino
I actually looked at the basic spreadsheet again and worked out that I only needed to relate to the cells with the interest rate and the amount borrowed.
Thanks Debra [
]The search function doesn’t seem to be working for me at the moment, where can I download this excel spreadsheet from?
Cheers
Its much quicker and easier to create the excel formula than to download one, i have created one that also caculates the stampduty on investment properties, you will find it very hard to find software out there, that can caculate this for you and many excel programs are on american or canadian system of workin out how interest rates are caculated, you will notice there is some difference.
also creatin one your self will help you and further knowledge you about interest rates and you will be able to quickly caculate a property with havin your excel spreadsheet infront of you.
Hi still_in_school (Sorry, don’t know your name[8D])
Would you mind e-mailing me a copy of your spreadsheet? steveodatwestnet.com.au
Thanks
P.S. I put at instead of @ to avoid spammers who run software programs over web sites to get e-mail addresses.
hey steveod,
i hear you, im worried and im sure its part of the forum rules that i cant do it, but if you want tell me what problems you are having with your excel spreadsheet to caculate a figure and i will be happy to answer it for you and tell you how, but remember only use the excel spread sheet as a guidance but you must still get pre approved finance from your bank. cause a few dollars out a year or week on a home excel spread sheet can be thousand of dollars difference over a 30 year loan with the bank.
its called the Quick Rental Yield Calculator and i downloadedit a while ago and now I cant work out where from. Maybe ask Steve etc and they can point you to the right place
Hi all,
a formula i learnt at uni in finance, looked like this
lets start with an example
interest is 6.05% p.a
weekely repayments = .0605/54 = .00116346
term of loan 30 yrs = 1560 payments
so here it goes…
^-1560 = to the power of negative 1560
[1-(1+.00116346)^-1560]/ .00116346
=.8370/.00116346
= 719.4059then principle of loan (what you borrow)
divided by 719.4059 gives you weekely repayments…therefore 100000/719.4059 = weekely repayments of
$139.00 a weekif someone would tell me if thats about right!?
Josh
You lost me when you divided the interest rate by 54!!
Cheers
MelHi all,[
]First Post today,
Josh that is exactly what I recall from high school and I think if you change the -tive to +tive you can get the amount you are able to pay to see how much you can comfortable afford
its called the Quick Rental Yield Calculator and i downloadedit a while ago and now I cant work out where from. Maybe ask Steve etc and they can point you to the right place
ddtaprell
Where did you download the Quick Rental Yield Calculator from ?Hi ddtaprell
What i suggest you do for a P&I loan in excel is,
Go to insert>Function
then go to financial functions
then go to PMT, and just follow the directions, you can click on help for examples, should find it easy.
For int only it is just the annual rate*principal i thought, then just divide by 52 for weekly repayment, correct me if I’m wrong.
Fudge111[
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