Fixed Principal Plus Interest series generates a series of payments or withdrawals with a fixed amount applied to principal, plus an amount to cover accrued interest. You can use the Fixed Principal Plus Interest series when setting up a new note that calls for payments of principal plus interest.
To enter payments with a fixed amount applied to principal
- Click the Home ribbon's Special Series menu button in the Detail group.
Tip: You could also press [F2] from the Amount field of the cash flow line.
- Select Fixed Principal Plus Interest from the drop-down menu. The cash flow line will expand to include the Special Series detail.
- Enter the amount to be applied to principal in the Principal payment amount field. Press [U] if you want to calculate the principal payment amount.
After you finish editing the series detail, you can continue on to the Number field by pressing [Tab]. TValue automatically calculates the appropriate interest and adds it to each principal payment when the amortization schedule is prepared.
Example screenshots
Cash Flow Matrix
Amortization Schedule Report
