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• Amount Financed
• Interest Rate
• Tenure
A special note: I am using Microsoft Excel 2007 to draw the repayment schedule.
The functions may vary version to version. Sorry folks for the version
inconvenience. But you can locate the function in any Excel version.
Write the “Amount financed” in A1 cell. Put the value of amount financed in
B1 cell.
Write the” Interest rate” in A2 cell. Put the value of Interest rate in B2 cell.
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Created by: Subhendu De Emailto: subhendude@gmail.com
Put “1” in A7 cell and “2” in A8 cell and select A1, A2 cell together and drag
up to the cell unless the value becomes 36 (I took 36 as my tenure is 36).
Now go to B7 cell and write “=$B$4” and press enter. Check whether the
value becomes equal to the value of B4 cell. Select B7 cell and go to the
corner side and double click. The value copied to every cell up to 36 tenures.
Now go to C7 cell and put “=B7-D7” and press enter. Select C7 cell and go to
the corner side and double click. The value copied to every cell up to 36
tenures.
Now go to E7 cell and put “=B1-C7”. Again go to E8 cell and put “=E7-C8”.
Select E8 cell and go to the corner side and double click. The value copied to
every cell up to 36 tenures.
Now select from C7 to C42 and click the sum button. The total summation
would display in C43 cell.
Now select C43 cell and go to Goal Seek from the Data menu. Click Goal
Seek, a new dialog box will come like in the figure:
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