Forum Discussion
FIguring loan term left, and amortization of loan value remaining
Also, this mailer would pull additional information from the same line item as well, such as Name of borrower, address, etc.
Meanwhile I'm posting workbook has sheet calculates loan payments,,, read the instruction before use it. If you want to automate Mail the balance amount,, need Macro, otherwise simply you can use it.
Okay. Lets assume, using your calculator, that todays date is 11/1/2019 (month 10), how can i have excel pull the remaining balance, and input it into a word mailer...as well as the remaining months available, rounded up to the nearest 5 year *i.e. 5-10-15-20-25-30).
But not on a one by one case, that would be very time consuming, I have a list of 1700 borrowers, and I'd need to pick out remaining balances as of "today" based on their original loan amount, and todays date, using the amortization calculator you provided, using the average Interest rate for the year they closed the loan originally...this interest I would have to put in manually,
so my mailers (in word), would say something like this:
"Hello Mr/Mrs Jones, we see you have a current payment of around (1600$) with (something Bank), with todays interest rates we could save you approximately (400$), Please call ###.###.#### for more information."
The formula I'd need is for excel to pull the remaining balance from the amortization calculator...counting from origination date, to todays date, and then also, hopefully, doing the calculations for the difference in payment based on a calculator of the current interest, and THEIR remaining balance on a different worksheet.
Also, your worksheet doesnt go past 24 months, how can i fix it? And can i make it do the remaining balance of the months remaining...I.e. 360 total months, 240 paid, input 350 into the No EMI, and it shows the remaining 10 years remaining balance
I think that you have not examined my Loan calculator properly,, please check the Loan Date in cell b10 is 01/01/2019 is the PAST DATE, calculation is for 20 months ,, check the last row the date is 09/01/2020 ,, considering the CURRENT Month is OCTOBER , what else you need,,, look in case of getting PAST value ,, what u have to do is,, workout on paper, before using my sheet,, about the EMI month & No of EMIs according to current date.
And pull the values you need to communicate with client on another sheet and use it with MAIL Merge with MS-WORD!!, Hope this help U.