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Amortization 360 Vs 365 Days

I have a loan for $755,812 at 6.0% for 5 years. I put this in as pmt and got a montly payment of $14,611.98. The bank has a payment of $14,644.10.

I asked the bank why the difference and they said it was the difference between 360 days vs 365.

How do I calculate it to get their montly payment and make an amortization schedule with interest and principal?

Thanks


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Similar Topics







A previous poster explained what I also need; there were no responses,
so I thought I would try again.

Does anyone know of an Excel template--or a small stand-alone
program--that will calculate the interest/principal breakdown when
payments are varied in amount and frequency? Free or low-cost, please.
I need one that will work on my Mac/Office 2004. I will need to print
out periodic reports.

Here is the way the previous poster described it:
"Excel template: Loan Amortization for random/irregular payments,
figures days
between payment dates.
I have a loan with a variable beginning balance and irregular payments
with
annual large payment. (based on collections)
Would like to enter payment and date.
then Excel would figure days since last payment, interest amount,
principal
amount, Ending Principal balance.
And total interest paid, total pricipal paid
If I change the starting principal, excel would recalculate all
entries."

Thanks very much.




I have attached a schedule for shift allowance calculation. The conditions for payment are as follows:

3 & 4 shifts = 15% Basic
2 shifts = 10% Basic
If on leave for 21 working days or more, no shift allowance
If on leave for less than 21 working days and on 3 or 4 shifts, shift allowance prorated as (Basic*15%)/21*(diff. btw 21 and no of days leave observed)

If on leave for less than 21 working days and on 2 shifts, shift allowance prorated as (Basic*10%)/21*(diff. btw 21 and no of days leave observed)


The formular I used in the attached worked but the only problem is that I had to sort by no. of shifts and adjust the formular first. I need A formular that does not require sorting. I tried to combine IF, AND, OR formulae but I got error. Please assist me sort this out. Thanks a bunch.


Good afternoon!

I'm working with Excel 2003 sp 3 on Windows xp.

I have been banging my head trying to jar loose the formula to calculate man days where 1 equals 8 hours. I have one that was given to me by a coworker:

=INT(Q3/8)+(((Q3/8)-(INT(Q3/8)))*0.8)

That calculates man days from total hours. I need a formula that will total man days and return the man day answer. Example:

weekending 12/25 = 16.2 which is 16 man days and 2 hours
weekending 1/1 = 24.7 which is 24 man days and 7 hours

Total = 41 man days and 1 hour

I have also been asked if there was a way for a number to be entered into a spreadsheet and automatically put in order without a macro or "pushing a button".

Any advice is greatly appreciated!

Happy New Year!

~ Brenda ~


Very new in this board. If I post this question in the wrong forum please bear with me.
There is about 20 staffs in our department and I have made a spreadsheet with 12 tabs for each month of the year Jan-Dec. If each staff have 15 days annual leave each year and how can I make a formular that can automatically calculate the balance of annual leave and entered in the tabs of the following months. For example if staff A used 5 days in Jan how can the balance of 10days be entered in the tabs from Feb-Dec. If he use another 5 days in July the remain balance of 5 days be automatically entered in the tab from Aug to Dec. Likewise if staff A took 2 days sick leave in Jan, and 2 days in Mar how can this sick days be automatically sum up in the months after. I am doing this manually at the moment and it is very time consuming and also very easy to make mistake.
Thanks and sorry for this long questions


I'm trying to come up with a solution to calculate the man hours and days worked over multiple sheets.

I have a file that has 8 sheets. the first seven sheets are the days of the week and the 8th sheet is where I want to calculate the hours.

The days of the week consists of "Name" "Date" Hours"

The 8th sheet consists of "Name", "Days of the week in their own column (7 columns in total)", "Total Hours" and "Total Days Worked"

Now... each day is always a different group and what I'm hoping for is to create a formula that can grab each name with their hours and throw them into the 8th sheet. So when the end of the week is done I have all the Employees weekly hours and days worked all finished.

I hope this makes sense. This file is to track about 100 employees that are on a rotational work schedule.

I have attached a sample file.

Thanks in advance for your help.


I have a spreadsheet counting down the days until a date is reached. However, after that date is reached and passed I get a #NUM! error.

What can I do to countdown the days as below AND countdown the days that have passed as a NEGATIVE NUMBER???


=DATEDIF(NOW(),D11,"D")


In Excel I have been trying to find an easier way to calculate a time
difference where the times cross midnight. Example:
Start time: 23:50:00
End time: 00:15:00

How would you formulate an equation to determine the duration of time or
differnce between the start and end time?



This formula is supposed to calculate difference between today and date hired to give years and months of service. Works fine for all except if the person was hired in year 2000 then this formula shows 110 y. Any one know how to fix this? or have a different formula that works.

=DATEDIF(E21,TODAY(),"y")&" y "&DATEDIF(E21,TODAY(),"ym")&" m"

Thanks
Rick


Dear Sir,

If any one could give me a solution for this its will be a great help for me.

I am working in a bank and on every day we receive Month to date data of Loans and advances made by every branch with Region wise total and manager wise total. With Sum of loan and count of loan. In our MIS format the in A coulum branches are sorted and listed in a sequence with sub total Region. I have data where if if do the pivot and change the data the out put should be displayed accordingly in the MIS format. Can any one help me how can we do this or is there any other office addins/softwares are available if so the data is changed on a daily basis and if we do the pivot it will automatically copy the data to the MIS format.

Thanks.


Hi folks,

Hoping someone can help me quickly as I'm pulling my hair out and have a deadline getting too close.

Been trailing the net and this board but can't work out how to do a simple variance.

How do I work out the difference between two numbers - including negatives.

If the numbers are all positive, it's fine as it's simply a case of A - B = C which is your difference. However, that doesn't work if B is negative.

I need a formula that would give the following:

First Number / Second Number / Difference
1 / 5 / 4
1 / -5 / -6
-1 / 5 / 6
-1 / -5 / -4
-5 / -1 / 4

Hopefully there's a simple function I've been missing.

Thanks in advance, R


On my calculator, if I divide 462,534.05 by 335 I get 1,380.70. Then if I times 1,380.70 by 335 I get 462,534.50. Which is what I need it to be because I need to calculate the difference of a figure not dividing equally.

On excel, if I divide 462,534.05 by 335 I get 1,380.70. Then if I times 1,380.70 by 335 I get the SAME result of 462,534.05.

I have to account for the difference of not dividing equally so there is some format or accounting function that's preset that I don't want but I have no idea how to fix it or format my excel sheet to calculate as my calculator would.

Please can someone help? Thanks!


Is there a way to calculate the average days between a column of dates?

Basically, I've got a sheet that contains a table of entries, and each entry gets a date stamp in the first column. I would like to have the sheet display the average time, in days, between entries. Is this possible?

Thank you in advance!
~cp


Hello,

I have two columns of data: column A contains the date and time in the form dd/mm/yyyy. Column B contains a number value. All the times are in order, so column A looks like:

01/01/2007
02/01/2007
03/01/2007

I have data from 2007 to 2010. I need to calculate an average daily value (in column B) for each month, and display it in column C. So, for January, I need to calculate the average of 31 days, February, 28 days, etc.

Is there a function I can use to do this? I've been trying the AVERAGEIF formula but can't get it to work. Any ideas would be much appreciated!

Many thanks,
Caitlin


Entering time values in custom format [h]:mm:ss
Cells accept hours over 23,
Adding cells in column returns correct total time.
Have not found a way to multiply these cells by a $ hourly rate.
So use HOUR(cell ref) and MINUTE(cell ref) to capture values in referenced
cell - then use these values to calculate total payment for $rate per hour.
However, the HOUR(cell ref) formula returns the hours in excess of 24 when
the cell contains an hour value in excess of 23 (ie 27 hours returns 3).




I use Excel 2000
I have sheet muster for my clients of January, 2005 like :
( P = Present, A=Absent )
A.....B.....C.....D.....
Days Sun Mon Tue Wed
Date 1 2 3 4

1 John P A A P
2 Lucy A P P A
3
Now I want to calculate the total Sundays, Mondays, Tuesdays etc. present in
that month. How can I do this?
--
Knowldege is Power



I'm sure this has been addressed before, and I'm sure one of you 50lb heads has the answer I'm looking for. I want to generate a bank of 200-300 questions in excel and be able to make a test of 50 questions that will be different every time. I want to be able to do this with multiple choice questions as well as just plain essay questions. Can I have some instruction or examples? Thanks guys!


I was able to convert start date and and end date to the number of days
inbetween the two dates. Does anyone know how to then convert the number of
days into months?



I have a spreadsheet set up with an employees information, including the start date. After each year that the employee is working, he gets bumped up on the pay scale. For this reason, I only need to know how many years the employee has been working, rounded down to the nearest year.

This is what I have so far (hire date is in column B):

=((TODAY()-B4)/365)&" YEARS"

This function gives me a number with many decimal places.

I tried:

=ROUNDDOWN((TODAY()-B4)/365),0)&" YEARS"

It tells me I have too few arguments. Please help!


HI...can anyone help me with a formula for aging data in days (to be aged based on current date vs. for eg., Invoice date)


I'm trying to format a worksheet to show how many days overdue certain tasks are, and running into a couple of issues. The sheet is set up with Due Dates in Column A, Days Overdue in Column B, and Date Completed in Column C. My first thought was just to use as simple a formula as possible in Column B =Today()-A2. This worked alright for tasks that already had Due Dates assigned, but if Column A was blank I'd get a high number in Column B. I also realized that tasks will continue to show as overdue even after I enter the completed-on date in Column C. Is there a relatively simple way to tackle this formula? Thanks in advance for suggestions. (I've attached an example with the column headings I want to use.)