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vibo · Joined: 26 Aug 2006 Posts: 1 1.17 Dollars($)

a balloon mortgage note of $100K for two years is NOT paid...how do I calculate the total interest due after 5 years of non payment?

thank you..VW

helping_user

Hi Vibo,

I am very much familiar with Excel. I can give you the formula through which you can calculate your total interest amount in last 5 years in MS Excel. (Hope, you are familiar with Excel)

The formula is ISPMT (interest_rate, period, number_payments, PV)

In the MS Excel, you just type the formula as per your required value and press enter, you get the result.

Assuming, a mortgage note of $100 for 2 years is unpaid for last 5 years, the rate of interest is 3% p.a. and you need to make yearly payment.

Therefore,
Rate of Interest = 5%
Total Period = 5 Years (Since, the loan is unpaid for last 5 years)
Number of payments = 1 (Assuming to make yearly payment)
Present Value (PV) = $100

Then, Total Interest = ISPMT(3,5,1,100)

So, it will show you the result for Total Interest = $ 1200.

Hope, it will help you to calculate your total interest.

Thanks

Guest

Hi,

I have never used excel formula for calculating interest dues or any other mortgage amounts.

I tried this formula and it is really quite good.

Company	Loan Type	APR	Est. Pmt.
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2 yr balloon note interest due after 5years of non payment