Personal Finance

Help Needed: Looking for super duper loan payment calculator

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  • Aug 1st, 2020 1:21 pm
[OP]
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Apr 21, 2004
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Help Needed: Looking for super duper loan payment calculator

Is there an online calculator / downloadable spreadsheet that can take into consideration, the following?

annually compounded interest rate (consistent through the life of the loan) --> it's easy to calculate to the last whole year, where it becomes a little messy are the irregular payments of varying amounts that straddle various loan amounts.

For example:

$5,000 lent on March 1, 2016 at 6% interest (compounded yearly)
$7,500 lent on April 23, 2017 at 5% interest (compounded yearly)

Payments: $1,000 on May 1, 2019, $3,000 on May 30, 2019, $3,500 on September 1, 2019 and so forth


Most of what I see online are amortized payment schedules with consistent payments.


My goal is to make sure the right interest payments are made over the life of the loan. I've done the calculations in Excel but just wanted to double check my work as it's messy and not as easy to follow.

Thank you.
1 reply
Newbie
Aug 11, 2020
1 posts
1 upvote
alanbrenton wrote: Is there an online calculator / downloadable spreadsheet that can take into consideration, the following?

annually compounded interest rate (consistent through the life of the loan) --> it's easy to calculate to the last whole year, where it becomes a little messy are the irregular payments of varying amounts that straddle various loan amounts.

For example:

$5,000 lent on March 1, 2016 at 6% interest (compounded yearly)
$7,500 lent on April 23, 2017 at 5% interest (compounded yearly)

Payments: $1,000 on May 1, 2019, $3,000 on May 30, 2019, $3,500 on September 1, 2019 and so forth
You can check if here https://promoneysavings.com/need-money-now/ if you need money now

Most of what I see online are amortized payment schedules with consistent payments.


My goal is to make sure the right interest payments are made over the life of the loan. I've done the calculations in Excel but just wanted to double check my work as it's messy and not as easy to follow.

Thank you.
As far as I know, this kind of calculations are considerate personal/rare so free online calculators cannot handle this
You should try your luck with paid ones ( some of them have weekly free trial and you could just use it once and forget forever )
Last edited by samlarson on Aug 18th, 2020 11:44 am, edited 1 time in total.

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