Hello,
I'm trying to use the Finance PMT function along with a iterative Macro to calculate the repayment scheduled of several loans.
The goal is to have have a summary of the total combined payments each month.
I can manage one loan, but when i add more loans I'm running into issues.
All the data i have is variable. (Annual Interest Rate, Duration, Finance Amount, Future value (RV).
Example:
Annual Interest Rate | Duration | Finance amount | RV |
3,50% | 37 | €20.000,00 | €10.000,00 |
4,10% | 37 | €19.000,00 | |
3,50% | 25 | €18.000,00 | €4.000,00 |
4,10% | 25 | €17.000,00 |
At the 37th month i should have an outstanding balance of €14k.
Unfortunately this isn't the case.
Issues:
1. When I have loans with a different duration the combined schedule isn't correctly amortized.
2 When i have a future value the combined schedule isn't correctly amortized.
Can anyone help with this issue?
Thanks in advance,
James
Solved! Go to Solution.
I am attaching a sample workflow which you can use to calculate EMI for multiple loan. Originally I developed this workflow for the following post.
@cosgro17 Marking your name as It may be helpful for you.
Fantastic! Thank you, @ponraj!!