Accountants: How to calculate and create an interest document?
 

I am trying to figure out how to create an offishul "spreadsheet" like document showing what a balance owed 8 years ago, with 10% interest calculated, would look like now. The debt has been paid down a grand or two here and there over the 8 year period. Example:

Original debt in 1999 = $55,000

Sporadic payments totalling $20,000 during the past 8 years, more or less spread out evenly over the time period in payments of $1000 or $2000.

Anyone know if there is some type of website that might show the balance owed as of now, along with an interest table?

Thanks in advance & forgive my stupidity :)

Motion:

Are you looking for simple interest amortization tables with payment histories? I have some in excel format. Pm me I will e-mail them to you.

try this

http://www.amortization-calc.com/

Motion - if you pm me the actual dates of the payments I can email you the spreadsheet.

The simple amortization is easy, getting a calc that will handle sporadic payments and reflow the schedule in "real time" to handle the new interest capitalization/overpayments/undeprayments/etc is not.

TValue makes such a product, but it costs $149... it will definitely do what you want and more. I'm not aware of anything free or even cheap, but if anyone knows of such a beast I'd be interested in hearing about it.

TValue is the ticket. For all the dumb ***** people are willing to waste money on it's practically a bargain at $149.


motion if you are self employed you need to buy it and spend some time learning it (it's fairly simple).

Evan and David, PMd you.

Thanks others for your suggestions. I will look into the TValue product, although my need is (hopefully) a one-time thing.