The Number field on a cash flow line indicates the number of times the Event occurs. For Loan Events, the default for this field is 1 because there is usually only one loan. For Payment Events, this represents the number of payments that will be made (e.g., 360 monthly mortgage payments).
To specify the Number of events
- [Tab] to or click in the Number field on a cash flow line.
- Enter the Number of loans, payments, deposits, or withdrawals. If more than one (e.g., 360 monthly mortgage payments), enter the number that occur before the Event on the next cash flow line.
- Press [U] in the Number field.
The word "Unknown" will appear in the field. The End Date field will display "Pending". The End Date will be calculated and displayed when you solve for the Number of events. - Enter all the variables for the schedule you are working on.
- Press [F9], [Ctrl]+[U], or click the Calculate button in the Compute group on the ribbon. The calculated number will be displayed in the Number field that was designated Unknown.
If you want to amortize a Payment Amount, but make only a few of those payments, first, Calculate the Payment Amount over the full term (e.g., 360 months). Second, change the Number of payments to the number that will be made. For example, enter 60 if the loan is amortized over 360 months but only 60 payments will be made with a final balloon payment. Third, Calculate and treat the rounding amount as a Balloon Payment.