How can I generate a complex loan ammortization schedule with specified figures?

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In summary, the borrower is seeking guidance on creating a complex loan amortization schedule for a $390,000 loan with (3) annual payments of $10,000 each on Jan 5th, July 5th, and Oct 5th. The first payment was made on July 5th, 2015 and the loan is to be amortized over 30 years. However, without an interest rate specified and the unusual payment dates, no formula can be used and a computer program is needed for calculation and schedule printing.
  • #1
dzweber
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How would I create a complex loan ammortization schedule for the following figures

$390,000 Loan

(3) payments of $10,000 each year on Jan 5th, July 5th and Oct 5th

First Payment on July 5th 2015

Ammortized over 30yrs
 
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  • #2
dzweber said:
How would I create a complex loan ammortization schedule for the following figures

$390,000 Loan

(3) payments of $10,000 each year on Jan 5th, July 5th and Oct 5th

First Payment on July 5th 2015

Ammortized over 30yrs

Hi dzweber! Welcome to MHB! (Smile)

We ask that our users show their progress (work thus far or thoughts on how to begin) when posting questions. This way our helpers can see where you are stuck or may be going astray and will be able to post the best help possible without potentially making a suggestion which you have already tried, which would waste your time and that of the helper.

Can you post what you have done so far?
 
  • #3
Not even sure where to start with a formula. Hoping for a spreadsheet referal
 
  • #4
dzweber said:
How would I create a complex loan ammortization schedule for the following figures

390,000 Loan

(3) payments of 10,000 each year on Jan 5th, July 5th and Oct 5th

First Payment on July 5th 2015

Ammortized over 30yrs
Problem: you didn't specify an interest rate

Anyway, assuming an annual payment of 30,000,
an annual rate of ~6.5% needs to be the loan's rate.

But regardless of all that, no formula can be used
using those weird payment dates.

If you need an amortization schedule, then you need a
computer program to do the calculations and appropriate
schedule printing.

I'll gladly help...once you supply a rate!
 

FAQ: How can I generate a complex loan ammortization schedule with specified figures?

How does complex loan amortization differ from simple loan amortization?

Complex loan amortization involves more intricate calculations and takes into account factors such as varying interest rates, payment schedules, and compounding periods. Simple loan amortization, on the other hand, assumes a fixed interest rate and equal payments over the loan term.

What is the purpose of complex loan amortization?

The purpose of complex loan amortization is to accurately calculate the payment schedule for a loan with varying interest rates and payment amounts. This allows for a more precise understanding of the total cost of the loan and the distribution of payments over time.

How is the interest rate determined in complex loan amortization?

The interest rate in complex loan amortization is determined by the lender and is based on a variety of factors including the borrower's credit score, the current market rates, and the loan term. It may also be subject to change over the course of the loan.

Can complex loan amortization be used for any type of loan?

Yes, complex loan amortization can be used for any type of loan, including mortgages, car loans, and personal loans. However, it is most commonly used for loans with variable interest rates or payment schedules.

Is it possible to manually calculate a complex loan amortization schedule?

While it is possible to manually calculate a complex loan amortization schedule, it can be time-consuming and prone to errors. It is recommended to use a financial calculator or online amortization calculator for more accurate and efficient results.

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