software

I have created a monthly Canadian ammortization excel spreadsheet, but I
am unable to figure out how to change the it in order to have
semi-monthly, bi-weekly, or weekly schedules. My monthly formula is:

=PMT((1 A/2)^(1/6)-1,B,-C)

A=interest rate
B=payments
C=principal amount

Can anybody help me? email:

Thank you.
Alan B.--
AFQ
Posted from - www.officehelp.inCanadian mortgages have interest compounded semi-annually. As payments are
normally monthly, you need to calculate the equivalent monthly rate in order to
calculate the proper payment. This is what your formula does: it takes the
semi-annual rate (A/2), and converts it to a monthly rate (^1/6) as there are
six months in half a year.

Converting to any other mode simply requires calculating the number of periods
in half a year. Ergo, change the 6 to 12 for semi-monthly, 13 for bi-weekly and
26 for weekly. And, of course, adjust B for the increased number of periods. You
may find it easier to have B in years, and calculate the number of periods in
your PMT function.

Does this help?

--
Regards,
Fredquot;AFQquot; gt; wrote in message
...
gt;
gt; I have created a monthly Canadian ammortization excel spreadsheet, but I
gt; am unable to figure out how to change the it in order to have
gt; semi-monthly, bi-weekly, or weekly schedules. My monthly formula is:
gt;
gt; =PMT((1 A/2)^(1/6)-1,B,-C)
gt;
gt; A=interest rate
gt; B=payments
gt; C=principal amount
gt;
gt; Can anybody help me? email:
gt;
gt; Thank you.
gt; Alan B.
gt;
gt;
gt; --
gt; AFQ
gt; Posted from - www.officehelp.in
gt;

Thank you Fred, it worked perfectly.

Alan--
AFQ
Posted from - www.officehelp.in