CELLS:
C4 Principal is.... $20,000
C5 Annual Interest... 5.00%
C6 Date of first payment... 1/1/2009
C7 Loan in Years... 5 years
G4 Monthly Payments....$377.42
G5 Scheduled Payments.... 60
G6 Payoff date....??????
What is the formula to figure out the payoff date. I think it is a Index function - I have googled it, looked through my books and have been stuck for 5 hours now. PLEASE HELP!!
I have to figure out the formula, I can not just type in the date in cell G6. If I could have done that I would have done that 5 hours ago.
C4 Principal is.... $20,000
C5 Annual Interest... 5.00%
C6 Date of first payment... 1/1/2009
C7 Loan in Years... 5 years
G4 Monthly Payments....$377.42
G5 Scheduled Payments.... 60
G6 Payoff date....??????
What is the formula to figure out the payoff date. I think it is a Index function - I have googled it, looked through my books and have been stuck for 5 hours now. PLEASE HELP!!
I have to figure out the formula, I can not just type in the date in cell G6. If I could have done that I would have done that 5 hours ago.