noreplysoccer[at]hotmail.com (Jim) wrote in message news:<b7cb2d49.0311211001.3a593d6b[at]posting.google.com> ...

- quote -

If you can calculate PPMT, then the interest payment is PMT-PPMT.
There's got to be a function in Excel to do this.

"John A. Weeks III" <john[at]johnweeks.com> wrote in message news:<211120031334345049%john[at]johnweeks.com> ...
- quote -

function that can figure out the total monthly payment. It's not too
user friendly but you only need to figure it out once. If you like
rolling your own you can look at my webpage:

<http://home.earthlink.net/~speednxs/int2.htm
Make sure you use the exact expression with the funny negative
exponent. There are also canned answers that you can use as test
cases.

Good luck with your spreadsheet,
Speednxs

In article <b7cb2d49.0311211001.3a593d6b[at]posting.google.com> , Jim
<noreplysoccer[at]hotmail.com> wrote:

- quote -

You are making this too hard. 143,000 * .05875 / 12 = 700.10
Set up a spreadsheet that has a column for principal, payment,
interest, and ending balance. The trick is to make next month's
principal equal to the current month ending balance. I throw
in a column for additional principal payments, and set it equal
to zero. That lets me type in numbers for what if types of things.

Send me your real E-mail address, and I can send you my 15 and
30 year Excel spreadsheets.

-john-

--
================================================== ==================
John A. Weeks III 952-432-2708 john[at]johnweeks.com
Newave Communications http://www.johnweeks.com
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All-

I am considering renting the townhouse I currently live in. To
understand my billing and cash flow issues, I'm trying to figure out
when additional principle payments will pay off my second mortgage and
first mortgage ahead of the 10 year and 30 year periods allowed by the
bank.

I have not found the calculation which tells me my interest paid each
month and this is my question- how do you calculate interest owed each
month on a 30 year fixed mortgage?

Calculate interest on a $143,000 principle with an APR of 5.875%.

All this is being done on an excel speadsheet.

PPMT allows me to calculate how much principle is being paid each
month for the 360 month mortgage. As best I can tell, this is
accurate on my spreadsheet.

I am looking for the function wizard or calculation which tells me how
much interest is owed each month.

Thanks in advance