Spreadsheet: 151804d1335130366-conditional-format-question-i-think-test-credit-account-sheet
Sheet: Sheet2

Version 2.2 April 15  2012 |  |  |  |  |  |  |  |  |  | Instructions
 | Credit Account Interest & Outstanding Balance Calculator |  |  |  |  |  |  |  |  | 1) Enter the total amount borrowed (net of deposit paid up front) in Cell D4
 |  |  |  |  |  |  |  |  |  | The amount in Column C is what is owed  at any point in time
 | Amount of Credit |  | 1000 |  |  |  |  |  |  | 2) Enter any additional payments in Column G in the month in which they are made (or anticipated to be made).
 |  |  |  |  |  |  |  |  |  | Note that the calculations are approximate when additional payments have been added and may not be entirely accurate depending upon when payments are taken, interest calculated, etc. The final amount owed will be subject to no more than 2 months interest at the point where the outstanding balance reaches zero.
Year | Month | Amount Outstanding | Interest @ 1.79% per month | Minimum Monthly Payment | [NAME] Each Month | Additional Payments | Interest Paid Each Month & Year | [NAME] In Each Year | Total Interest Paid (at foot of column)
 | 1 |  |  |  |  | 50
 | 2 |  |  |  |  | 50
 | 3 |  |  |  |  | 50
 | 4 |  |  |  |  | 50
 | 5 |  |  |  |  | 50
 | 6 |  |  |  |  | 50
 | 7 |  |  |  |  | 50
 | 8 |  |  |  |  | 50
 | 9 |  |  |  |  | 50
 | 10 |  |  |  |  | 50
 | 11 |  |  |  |  | 50
Year 1 | 12 |  |  |  |  | 50 |  |  |  | NOTE: This spreadsheet ONLY gives the amounts for credit - the deposit is not included.
 | 13 |  |  |  |  | 50
 | 14 |  |  |  |  | 50
 | 15 |  |  |  |  | 50
 | 16 |  |  |  |  | 50
 | 17 |  |  |  |  | 50
 | 18 |  |  |  |  | 0
 | 19 |  |  |  |  | 0
 | 20 |  |  |  |  | 0
 | 21 |  |  |  |  | 0
 | 22 |  |  |  |  | 0
 | 23 |  |  |  |  | 0
Year 2 | 24 |  |  |  |  | 0
 | 25 |  |  |  |  | 0
 | 26 |  |  |  |  | 0
 | 27 |  |  |  |  | 0
 | 28 |  |  |  |  | 0
 | 29 |  |  |  |  | 0
 | 30 |  |  |  |  | 0
 | 31 |  |  |  |  | 0
 | 32 |  |  |  |  | 0
 | 33 |  |  |  |  | 0
 | 34 |  |  |  |  | 0
 | 35 |  |  |  |  | 0
Year 3 | 36 |  |  |  |  | 0
 | 37 |  |  |  |  | 0
 | 38 |  |  |  |  | 0
 | 39 |  |  |  |  | 0
 | 40 |  |  |  |  | 0
 | 41 |  |  |  |  | 0
 | 42 |  |  |  |  | 0
 | 43 |  |  |  |  | 0
 | 44 |  |  |  |  | 0
 | 45 |  |  |  |  | 0
 | 46 |  |  |  |  | 0
 | 47 |  |  |  |  | 0
Year 4 | 48 |  |  |  |  | 0
 | 49 |  |  |  |  | 0
 | 50 |  |  |  |  | 0
 | 51 |  |  |  |  | 0
 | 52 |  |  |  |  | 0
 | 53 |  |  |  |  | 0
 | 54 |  |  |  |  | 0
 | 55 |  |  |  |  | 0
 | 56 |  |  |  |  | 0
 | 57 |  |  |  |  | 0
 | 58 |  |  |  |  | 0
 | 59 |  |  |  |  | 0
Year 5 | 60 |  |  |  |  | 0
 | 61 |  |  |  |  | 0
 | 62 |  |  |  |  | 0
 | 63 |  |  |  |  | 0
 | 64 |  |  |  |  | 0
 | 65 |  |  |  |  | 0
 | 66 |  |  |  |  | 0
 | 67 |  |  |  |  | 0
 | 68 |  |  |  |  | 0
 | 69 |  |  |  |  | 0
 | 70 |  |  |  |  | 0
 | 71 |  |  |  |  | 0
Year 6 | 72 |  |  |  |  | 0
 | 73 |  |  |  |  | 0
 | 74 |  |  |  |  | 0
 | 75 |  |  |  |  | 0
 | 76 |  |  |  |  | 0
 | 77 |  |  |  |  | 0
 | 78 |  |  |  |  | 0
 | 79 |  |  |  |  | 0
 | 80 |  |  |  |  | 0
 | 81 |  |  |  |  | 0
 | 82 |  |  |  |  | 0
 | 83 |  |  |  |  | 0
Year 7 | 84 |  |  |  |  | 0
 | 85 |  |  |  |  | 0
 | 86 |  |  |  |  | 0
 | 87 |  |  |  |  | 0
 | 88 |  |  |  |  | 0
 | 89 |  |  |  |  | 0
 | 90 |  |  |  |  | 0
 | 91 |  |  |  |  | 0
 | 92 |  |  |  |  | 0
 | 93 |  |  |  |  | 0
 | 94 |  |  |  |  | 0
 | 95 |  |  |  |  | 0
Year 8 | 96 |  |  |  |  | 0
 |  |  |  |  |  |  | Total
 |  |  |  |  |  |  |  | = Total Amount Paid over the period in repayments of principal plus interest
 |  |  |  |  |  |  | 95 | = Arrangement Fee
 |  |  |  |  |  |  |  | = Total Paid back over the 96 months.
 |  |  |  |  |  |  |  | PLUS Initial Deposit