Financial people - need a formula... - Chicagoland Sportbikes
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post #1 of 12 (permalink) Old 08-27-2003, 03:22 PM Thread Starter
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Financial people - need a formula...

I'm looking for a formula to tell me roundabout what my remaining principle would be on my truck loan. I had the formulas at one point in time (took a class in college on it) but can't seem to locate the textbook (I think my dad has it.)

So I'm looking to find out what the remaining balance is on a loan, based on the following info:

60 month term
2.9% interest
Been paying on it for 13 months now.

Thanks

Jim Ptak
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post #2 of 12 (permalink) Old 08-27-2003, 03:30 PM
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Re: Financial people - need a formula...

Quote:
Originally posted by OmniGLH
I'm looking for a formula to tell me roundabout what my remaining principle would be on my truck loan. I had the formulas at one point in time (took a class in college on it) but can't seem to locate the textbook (I think my dad has it.)

So I'm looking to find out what the remaining balance is on a loan, based on the following info:

60 month term
2.9% interest
Been paying on it for 13 months now.

Thanks
I would just call them for a payoff.




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post #3 of 12 (permalink) Old 08-27-2003, 03:36 PM
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you need the loan spreadsheet template for excel! i have it! pm me with your email address and i'll send you the coolest fucking spreadsheet ever!

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post #4 of 12 (permalink) Old 08-27-2003, 03:51 PM
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I believe that's called an amort schedule... If Vcook falls through, I have one, or you can download one from the net. Just look up amort schedule, and you can imput your numbers.

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post #5 of 12 (permalink) Old 08-27-2003, 03:52 PM
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I need the original loan amount
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post #6 of 12 (permalink) Old 08-27-2003, 03:52 PM
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Quote:
Originally posted by Pirate
I believe that's called an amort schedule... If Vcook falls through, I have one, or you can download one from the net. Just look up amort schedule, and you can imput your numbers.
i would never fall through! haha, yeah i think thats what its called. it rocks, i play with it for my mortgage.

Chris
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post #7 of 12 (permalink) Old 08-27-2003, 03:56 PM
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Based on a $30,000 loan amount your payments would add up to about $537 a month. 13 months is about $7,000 worth of payoff, but some of this is interest and does not apply to the balance. This is very very rough, give me the original loan amount and date.

Last edited by Kruz; 08-27-2003 at 04:00 PM.
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post #8 of 12 (permalink) Old 08-27-2003, 04:02 PM
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Or just go to Excel and use the Loan Amortization schedule.

It's easy enough for Vcook to use, so you should be OK.
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post #9 of 12 (permalink) Old 08-27-2003, 04:04 PM Thread Starter
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Vcook you have a PM

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post #10 of 12 (permalink) Old 08-27-2003, 04:05 PM
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Quote:
Originally posted by Kruz
Or just go to Excel and use the Loan Amortization schedule.

It's easy enough for Vcook to use, so you should be OK.
seriously, i dont know shit! if i can use this thing anyone can!

Chris
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post #11 of 12 (permalink) Old 08-27-2003, 04:07 PM
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Quote:
Originally posted by Vcook
i would never fall through! haha, yeah i think thats what its called. it rocks, i play with it for my pleasure.
What are you talking about?? Your wang again??


As a crazy butt pirate I must admit I love the cock!!!

<-------- Jeff


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Last edited by Vcook; 08-27-2003 at 04:12 PM.
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post #12 of 12 (permalink) Old 08-27-2003, 04:09 PM
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you got issues dude.

Chris
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