Re: CUMPRINC Function Returns #N/A

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From: George Sullivan (anonymous_at_discussions.microsoft.com)
Date: 08/08/04 

Date: Sun, 8 Aug 2004 06:01:53 -0700

Norman, This isn't a balloon. It is a credit card payment
situation (therefore the high interest rate and relatively
low principal). What I am trying to do is build a spread
sheet where I can take a situation where a person has a
number of credit card debts, order them as quickest to pay
off and the rest in ascending sequence. Then I pay off the
first and then take the payment I was making on the first
and add it to the payment on the second and use that
amount to pay down the second debt. When calculating
payoff of the second debt I use CUMPRINC to calculate how
much was applied to the second debt principal while paying
off the first debt (if all this makes sense to you).
Therefore there are partial month payments and relatively
short end periods, etc.
Thanks for hanging with me.
George Sullivan
>-----Original Message-----
>Hi George!
>
>I knew I should have covered that. It's zero! It should
be the FV.
>Those formulas don't cover balloon mortgages! I haven't
checked yet
>what ATP does and it was daylight (and I was about to
turn to dust).
>I'll be working on it later.
>
>I think it's just a case of deducting the balloon from
the PV to get
>the CUMPRINC and doing the same for CUMIPMT as before
plus adding
>interest on the balloon for the number of periods.
>
>But it needs checking and I don't like sending out my
stuffups
>(technical appraisal term!)
>
>Partial periods will be wrong. I much prefer amortization
tables for
>these things as they can be much more accurate. I've got
a new set for
>good homes on direct application (but not quite finished
on the
>annotation). Includes daily compounding of APR mortgages
with Variable
>rates and Additional payments (plus bells, whistles and
fluffy dice).
>Ideal for US financial year and even adaptable in
principle for
>Canadians, Poms and Aussies.
>
>
>--
>Regards
>Norman Harker MVP (Excel)
>Sydney, Australia
>njharker@optusnet.com.au
>
>
>.
>

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