Mortgage Calculator

[sooze29]

I have searched below and it appears some people have created a mortgage calculator. I am just after a very simple calculation from the following:

Current Value £150,000
Number of Payments 300
Interest Rate 4.69%
Monthly Pay £800

I want to find out what fomula I need that if I change the interest rate it will change the monthly payment cell?

 

[SkipVought]

How about the PMT function.

Skip,
[sub]
[red]Be Advised![/red] A chicken, who would drag a wagon across the road for 2 cents, is…
POULTRY in motion to PULLET for a PALTRY amount! [/sub]

 

[sooze29]

I have tried that which works to find out the actually monthly interest rate =PMT(B1,B2,B3)/12 but that does not include capital. I saw once where you put your current payment and it worked out how much capital you paid and interest so when you changed the interest it changed the payment. Hope that makes sense.

 

[mintjulep]

PPMT and/or IPMT

I think are what your are looking for.