Mastering Excel Loan & Mortgage Formulas by Tim Hill

Author:Tim Hill [Hill, Tim]
Language: eng
Format: mobi
Tags: Computers
Publisher: Questing Vole Press
Published: 2013-07-01T04:00:00+00:00

The -$50,000 is money that’s flowing away from you and into the retirement account. The result, $162,169.88, is money that’s flowing from the account to you.

Future Value of Payments and a Lump Sum

You can use FV to calculate the future value when there’s an initial amount and you plan to add to or subtract from that amount regularly.

You make monthly payments of $1043.29 against your $200,000 mortgage. The mortgage interest rate is 4.75%. In 5 years, you will still owe $182,996.79 on your house:

=FV(4.75%/12,5*12,-1043.29,200000,0)

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