#### EXCEL 2007 Formula to calculate INTEREST only on a 3 month bridge

```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.
```
 0
Utf
12/1/2009 5:47:01 PM
excel.worksheet.functions 4936 articles. 2 followers.

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```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.
```
 0
Utf
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---

"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.
```
 0
Utf
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.

```
 0
Fred
12/1/2009 7:45:51 PM

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