I am trying to calculate monthly INTEREST ONLY payment on a short term bridge/swing loan. Assuming an interest rate of 2.75%, paid monthly, Also assuming it will be required for a 3-6 month period, amount approx $500,000. Just switched to Excel 2007 but don't seem to be able to calculate using the formula builder. Not sure if it is compounded daily or monthly.

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12/1/2009 5:47:01 PM

You might want to check out the IPMT function. From the XL help file: IPMT(rate,per,nper,pv,fv,type) Rate is the interest rate per period. Per is the period for which you want to find the interest and must be in the range 1 to nper. Nper is the total number of payment periods in an annuity. Pv is the present value, or the lump-sum amount that a series of future payments is worth right now. Fv is the future value, or a cash balance you want to attain after the last payment is made. If fv is omitted, it is assumed to be 0 (the future value of a loan, for example, is 0). Type is the number 0 or 1 and indicates when payments are due. If type is omitted, it is assumed to be 0. Set type equal to If payments are due 0 At the end of the period 1 At the beginning of the period -- Best Regards, Luke M *Remember to click "yes" if this post helped you!* "Excel 2007 dummy" wrote: > I am trying to calculate monthly INTEREST ONLY payment on a short term > bridge/swing loan. Assuming an interest rate of 2.75%, paid monthly, Also > assuming it will be required for a 3-6 month period, amount approx $500,000. > Just switched to Excel 2007 but don't seem to be able to calculate using the > formula builder. Not sure if it is compounded daily or monthly.

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12/1/2009 5:56:01 PM

=IPMT(2.75%/12, 3, 3*12, 500000) ($1,084.62) , -- end of period =IPMT(2.75%/12, 3, 3*12, 500000,0,1) ($1,082.14) -- beginning of period See this for some examples: http://www.techonthenet.com/excel/formulas/ipmt.php HTH, Ryan--- -- Ryan--- If this information was helpful, please indicate this by clicking ''Yes''. "Luke M" wrote: > You might want to check out the IPMT function. From the XL help file: > > IPMT(rate,per,nper,pv,fv,type) > > Rate is the interest rate per period. > > Per is the period for which you want to find the interest and must be in > the range 1 to nper. > > Nper is the total number of payment periods in an annuity. > > Pv is the present value, or the lump-sum amount that a series of future > payments is worth right now. > > Fv is the future value, or a cash balance you want to attain after the > last payment is made. If fv is omitted, it is assumed to be 0 (the future > value of a loan, for example, is 0). > > Type is the number 0 or 1 and indicates when payments are due. If type is > omitted, it is assumed to be 0. > > Set type equal to If payments are due > 0 At the end of the period > 1 At the beginning of the period > > -- > Best Regards, > > Luke M > *Remember to click "yes" if this post helped you!* > > > "Excel 2007 dummy" wrote: > > > I am trying to calculate monthly INTEREST ONLY payment on a short term > > bridge/swing loan. Assuming an interest rate of 2.75%, paid monthly, Also > > assuming it will be required for a 3-6 month period, amount approx $500,000. > > Just switched to Excel 2007 but don't seem to be able to calculate using the > > formula builder. Not sure if it is compounded daily or monthly.

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12/1/2009 6:41:01 PM

If the interest is "paid monthly", the amount is: =500000*2.75%/12 Sometimes eschewing financial functions makes things a lot easier. Regards, Fred. "Excel 2007 dummy" <Excel 2007 dummy@discussions.microsoft.com> wrote in message news:BF0A509D-7C2A-41C2-A0AB-C0577E005416@microsoft.com... >I am trying to calculate monthly INTEREST ONLY payment on a short term > bridge/swing loan. Assuming an interest rate of 2.75%, paid monthly, Also > assuming it will be required for a 3-6 month period, amount approx > $500,000. > Just switched to Excel 2007 but don't seem to be able to calculate using > the > formula builder. Not sure if it is compounded daily or monthly.

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12/1/2009 7:45:51 PM

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