Help Please :)

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Occasional Visitor

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 Rate2.88%
Term (months)360
Principal & Interest$0.00
Escrow 
Mortgage Insurance 
HOA 
Total Payment 
  
Additional Payment $                150.00
  
Current Balance $        196,000.00
 
 

 

 

 

1 Reply

@Lostgirl2020 

 

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