I'm trying to make a personal finances spreadsheet to help keep a track of our income/outgoings.
Does anybody know a formula that will calculate interest on a credit card? I'm trying to work out how many months it would take to pay off if I pay x amount.


LinkBack URL
About LinkBacks
Reply With Quote
Sorry. I never managed to solve the general equation for how long it would take to pay off a loan, I ended up using the above to work out the daily interest rate then had an excel calculation that applied that interest to the running total, minus any payments made (listed in another column) and just dragged that down as many rows as I needed until the total was 0. (With the date in another column also just dragged down as far as needed).


