| A | B | C | D | E | F | G | |
| 1 | Interest Comparison Loan Sheet | ||||||
| 2 | Principal | $ 23,000 | |||||
| 3 | Yearly Interest | 9.00% | |||||
| 4 | Years | 3 | 4 | 5 | 6 | 7 | 8 |
| 5 | |||||||
| 6 | Monthly Payment | ($731.39) | ($572.36) | ($477.44) | ($414.59) | ($370.05) | ($336.95) |
| 7 | |||||||
| 8 | Total Paid | $(26,330) | $(27,473) | $(28,647) | $(29,850) | $(31,084) | $(32,348) |
| 9 | Total Interest Paid | (3,330) | (4,473) | (5,647) | (6,850) | (8,084) | (9,348) |
| 10 | |||||||
| 11 | Your Name | ||||||
| 12 | Task #, Loan | ||||||
| 13 | Date | ||||||
| 14 | CIS ### Sec X | ||||||
| Notes | |||||||
| For principal use ($10,000 plus the last four digits of your social security number) times 1.23. For yearly interest use 8.## where ## is the fourth and fifth digit of your ss number. Name all your ranges and only use range names to refer to cells in formulas. When using the payment function, look carefully at the instructions. Note that pv (present value) is Principal, Rate (per payment period) is Yearly Interest divided by 12, and Nper (number of periods) is Years times 12. Total Paid is Monthly Payment times Years Times 12. Total Interest Paid is Total Paid plus Principal. | |||||||
This table was created by a free Excel macro written by Charles Balch.
Here's the code. It is care ware - it's yours for free if do something nice for anyone (anyone includes you).