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Hello I am trying to calculate three months payment holiday into the attached. Could some please advise how I can incorporate into my excel. Below URL is the example of holiday
Regards
Dan
Hello I am trying to calculate three months payment holiday into the attached. Could some please advise how I can incorporate into my excel. Below URL is the example of holiday
Regards
Dan
Please explain here what you want - nobody should have to follow a link in order to help you.
Also, please update your profile - it says Excel 2003 at the moment, which can't be right.
Ali
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Hi I am trying to incorporate 3 month holiday period along with current loan calcualtion. Note Maximjum loan period betwen 1-3 months maximum holiday period is 3 months. During this period interest will continue to be charged at their existing interest rate(s) and the total amount of interest they pay over the term of the loan will increase.
This will result in a higher Loan balance than if they not taken out a holiday. At the end of their payment holiday It will recalculate their payments over their remaining term, taking this increase into account.
In this way, the have a repayment loan the new monthly payment will ensure they repay the full outstanding balance by the end of thier existing mortgage term by spreading the payments they haven’t made over their remaining term.
Regards
Dan
Please take a look at the file attached to post #2 of the Excel Forum thread linked below. I feel as if sheet 1 is the scenario to which you are referring. In the file, on sheet 1, change cell B5 to 12 and cell B6 to 3.
https://www.excelforum.com/excel-gen...t-holiday.html
Let us know if you have any questions.
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