{"id":24682,"date":"2017-10-08T22:18:38","date_gmt":"2017-10-08T22:18:38","guid":{"rendered":"http:\/\/www.oracletutoring.ca\/blog\/?p=24682"},"modified":"2017-10-08T22:18:38","modified_gmt":"2017-10-08T22:18:38","slug":"excel-finding-loan-payment-at-the-beginning-of-the-month","status":"publish","type":"post","link":"https:\/\/www.oracletutoring.ca\/blog\/excel-finding-loan-payment-at-the-beginning-of-the-month\/","title":{"rendered":"Excel: finding loan payment at the beginning of the month"},"content":{"rendered":"<h1>Tutoring financial math, loan payments are calculated. The tutor mentions how Excel handles payments at period beginning, as opposed to period end.<\/h1>\n<p>In my <a href=\"?p=24564\">post of October 5,<\/a> I show how to find the monthly payment of a loan using Excel. If not stated, the payment is assumed to be at month-end.<\/p>\n<p>What if a loan has the payment at the beginning of the month?<\/p>\n<p>Example:<\/p>\n<p><strong>Calculate the monthly payment on a 25-year, $100,000 loan at 4% compounded monthly, if the payment is made at the beginning of each month.<\/strong><\/p>\n<p>Solution:<\/p>\n<p>=pmt(4%\/12, 300, 100000,0,1)<\/p>\n<p>Hopefully you receive the answer -526.08. (Negative means paid out as opposed to received.)<\/p>\n<p>The fourth and fifth arguments aren&#8217;t present in my earlier post. The fourth is for the loan&#8217;s future value (assumed 0 if not specified). The fifth is for loan type: 0 for month-end payment, but 1 for beginning of month. The fifth is assumed 0 (month-end) unless given.<\/p>\n<p>The parallel situation with annuities is <em>annuity due<\/em>, where payments are <em>received<\/em> at month beginning. More about that <a href=\"?p=9037\">here<\/a>.<\/p>\n<p>Jack of <a href=\"https:\/\/www.oracletutoring.ca\">Oracle Tutoring by Jack and Diane,<\/a> Campbell River, BC.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tutoring financial math, loan payments are calculated. The tutor mentions how Excel handles payments at period beginning, as opposed to period end. In my post of October 5, I show how to find the monthly payment of a loan using &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"more-link\" href=\"https:\/\/www.oracletutoring.ca\/blog\/excel-finding-loan-payment-at-the-beginning-of-the-month\/\"> <span class=\"screen-reader-text\">Excel: finding loan payment at the beginning of the month<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1583],"tags":[2533,2534],"class_list":["post-24682","post","type-post","status-publish","format-standard","hentry","category-excel","tag-find-loan-payment-at-beginning-of-month-period-with-excel","tag-using-excel-to-find-annuity-due-payment"],"_links":{"self":[{"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/posts\/24682","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/comments?post=24682"}],"version-history":[{"count":30,"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/posts\/24682\/revisions"}],"predecessor-version":[{"id":24712,"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/posts\/24682\/revisions\/24712"}],"wp:attachment":[{"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/media?parent=24682"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/categories?post=24682"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/tags?post=24682"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}