O
One-Leg
Hello,
Is there a function in Excel that will allow me to enter my current credit
card balance, the interest rate I'm being charged and the amount I wanna pay
every month and have Excel give me the rundown of how many months I must pay
that exact amount before my balance gets at 0.00$???
Or be able to calculate the exact amount I'm paying on interest day by
day??? For example:
Date Desc. Amount Bal.
2007/01/01 Balance 1000.00$ 1000.00$
2007/01/01 Payment 100.00$ 900.00$
2007/01/02 Interest 0.65$ 900.65$
2007/01/03 Interest 0.65$ 901.30$
2007/01/04 Interest 0.65$ 901.95$
2007/01/05 Interest 0.65$ 902.60$
2007/01/06 Interest 0.65$ 903.25$
And so on.................................
Is there a function in Excel that will allow me to enter my current credit
card balance, the interest rate I'm being charged and the amount I wanna pay
every month and have Excel give me the rundown of how many months I must pay
that exact amount before my balance gets at 0.00$???
Or be able to calculate the exact amount I'm paying on interest day by
day??? For example:
Date Desc. Amount Bal.
2007/01/01 Balance 1000.00$ 1000.00$
2007/01/01 Payment 100.00$ 900.00$
2007/01/02 Interest 0.65$ 900.65$
2007/01/03 Interest 0.65$ 901.30$
2007/01/04 Interest 0.65$ 901.95$
2007/01/05 Interest 0.65$ 902.60$
2007/01/06 Interest 0.65$ 903.25$
And so on.................................