On page 68 i dont understand the calculations that took place to get “Weekly Repayment”
If your having problems crunching the number you can go to this website, and put the numbers to get a resut.
http://o2hl.com.au/calculatecost/calculators.cfm?calculator=loan_repayments
Hope this helps.
Matt
“If you do what you have always done, you will get what you have always had.”
“Isn’t it time for a change?”
Hi,
It’s a time value of money calculation whereby at the end of 25 years of principal and interest repayments, the amount of the loan outstanding is $0.
Use these variables in the Excel PMT function and you should come to an answer of $62.82
N= 1300 (25 years * 52 repayments per aunnum)
PV= 35,200
R/i = 0.15481% (8.05% / 52)
First payment at beginningCheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
ah ok i understand. I forgot about the 52 weeks in the year bit. Anyway what is the Excel PMT function and how do i use it.[
]shaepower, the PMT function works out your payments, both P&I for you.
In excel, click on Insert, Function, and choose PMT. It then steps you through the variables reasonably easily.
Cheers
MelHi,
Microsoft Excel… spreadsheet package.
Use Mel’s advice about how to use it.
It can be a bit tricky, but persevere and see where it gets you.
Bye,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
]
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