Aug 14 2020 05:59 PM
Help, I do not know what I am missing. Obviously I am a complete newbie in every aspect of excel.
I have been watching video tutorials for the last 2 hrs, to no avail. I am trying to get the Principal & Interest to calculate. Can anyone see my error??
=PMT(C6/12, C8, C4)
Current Mortgage | |
Loan Amount | $ 204,500.00 |
Est. Value | $ 400,000.00 |
Interest Rate | 2.88% |
Term (months) | 360 |
Principal & Interest | $0.00 |
Escrow | |
Mortgage Insurance | |
HOA | |
Total Payment | |
Additional Payment | $ 150.00 |
Current Balance | $ 196,000.00 |
Aug 14 2020 06:36 PM
This certainly appears to be a spreadsheet you've gotten from another source--it's not one created by a "complete newbie in every aspect of excel." Is that correct?
I think you're trying to do something it wasn't intended for. Those white-background cells are not meant to calculate; you're supposed to be entering data concerning your current mortgage, what you are paying currently in principal and interest, escrow, etc. It then will show you some comparisons were you to re-finance.
What you need (if you are wanting to have a spreadsheet calculate principal and interest) is a different template altogether. This one, for example: https://templates.office.com/en-us/Loan-amortization-schedule-TM03986974