I have created excel sheet as below
Interest Compounding Yearly
Principal 50000.00
Interest Rate 7.25% Per annum
Term 3 Months
Month Opening Balance Interest Charged Repayment Closing Balance
1 50000.00 0.00 16868.46 33131.54
2 33131.54 0.00 16868.46 16263.08
3 16263.08
here i want the total interest charged for three months in 3rd mnth interest charged column, if i select 7 mnths term total interest charged for 7 months should come in 7th month interest charged colum, if it is 13 months total interest for 12 months in 12th month interest column and remaining 1 month interest in 13th month interest charged column
kindly help
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