Excel Equation

Closed
DEW - Oct 7, 2010 at 07:47 PM
TrowaD Posts 2913 Registration date Sunday September 12, 2010 Status Moderator Last seen November 21, 2022 - Oct 12, 2010 at 10:05 AM
Hello,

Add equations to calculate the total cost of the loan by multiplying the number of payments (minus 1) by the monthly payment and adding the amount of the last payment. The following suppose to be the correct amounts of the loan in order:

$303,735.41
$321,697.14
$295,341.92
$310,838.49

Big Blue Bank: $250,000 Loan Amount + $53,735.41Total interest = $303,735.41

I keep getting these totals:

$303,735.60
$321,697.80
$295,342.08
$310,838.40

Which is very close with the equation that I am using:

=B4*C4+D4-D4

Please help.

Thanks,

Donna Winder
E-Mail ID removed for your security

1 reply

TrowaD Posts 2913 Registration date Sunday September 12, 2010 Status Moderator Last seen November 21, 2022 541
Oct 12, 2010 at 10:05 AM
Hi Donna,

I have no idea how I can help you with the data you have provided.
I can only advise you to double check your numbers.
Besides =B4*C4+D4-D4 is the same as =B4*C4 or did you make a typo?

Anyway more info is needed, maybe post your workbook using www.Speedyshare.com.

Best regards,
Trowa
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