Excel: Use =MOD() to Calculate Quarterly Interest Payments

One of the challenges you will encounter building monthly debt schedules is the need to calculate and show interest expense in each month, and then reflect the payment of interest at the end of the quarter. This video provides a helpful approach.

Related: Interest Expense vs Interest Paid in a Monthly Financial Model

Overview of ASM Financial Modeling Courses:

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[bigworm]

The only issue here is that some quarters are longer than others resulting in uneven quarterly payments in excel. In reality the borrower makes even payments over the life of the loan except for the first and last periods. Have you found a way to make these even in excel?

[vasileiosgeorgakopoulos]

Hi, I was wondering if there is an excel spreadsheet available to practice? many thanks

[marcoi]

Awesome! I didn't know that function!