Calculate credit card APR

I am using excel 07. I would like to know how to setup a formula to 
calculate credit card apr or a pre done form that i can download. I have 
been searching but can not find exactly what i am looking for. I would 
like to enter current balance, apr and have it calculate what the 
interest is then have it minus payment and then recalculate balance and 
have it continue for the next month. I am not sure if this is enough 
information but i hope it is a start. Any information would help. Thanks 
  in advance.  Rob
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rcfosta (8)
9/10/2007 12:36:45 PM
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Rob wrote:
> I am using excel 07. I would like to know how to setup a formula to 
> calculate credit card apr or a pre done form that i can download. I have 
> been searching but can not find exactly what i am looking for. I would 
> like to enter current balance, apr and have it calculate what the 
> interest is then have it minus payment and then recalculate balance and 
> have it continue for the next month. I am not sure if this is enough 
> information but i hope it is a start. Any information would help. Thanks 
>  in advance.  Rob

This is exactly what i want to do.

Manage all your credit card accounts using the same methods as the 
financial institutions. Includes the following:

  � Billing Cycle Closing Date
  � Days in Payment's Billing Cycle
  � Finance Charge for last month
  � Calculated Minimum Payment Due
  � Billing Cycle Payoff Amount
  � Last month's Average Daily Balance
  � This month's Average Daily Balance
  � Days in this month's Billing Cycle
  � Total Charges for the month
  � Total Payments for the month
  � Annual Interest Rate
  � Monthly Interest Rate
  � Minimum Payment Amortization Years
  � Extend Billing Cycle to Monday if ends on a Weekend
  � Total Charges over the 12 months plus Initial Values
  � Total Payments over the 12 months
  � Total Interest Paid over the 12 months
0
rcfosta (8)
9/10/2007 12:58:46 PM
Reply:

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