LOCBALANCE function

Returns balance of a line of credit at end of each month(s) from start month

Syntax

The LOCBALANCE function syntax has the following arguments

  • LoC_available     Required.    Number.    Amount of LoC available

  • Annual_interest_rate     Required.    Number.    Annual interest rate %

  • LoC_used     Required.    Array.    Amount of LoC that is used in a given month. Input is a row (of one or more columns) with amounts by month. Note: By default, this function will return a row of values for the same number of columns that you select for this input. Please make sure that adjacent cells do not have any other content. Add the month_numner input in this function if you need this value for a specific month (and not for all months).

  • Paydown_amount     Optional.    Array.    Cash available for paydown. Input is a row with amounts by month. Default=0 for all months.

  • Month_number     Optional.    Number.    Month for which this value is required. Leave this blank (no input) if you need values for the same number of months as the input array. Input value must be integer >=1. For example, enter 6 if you'd like this value for month 6. Note: value will be returned for specified month only if you enter a value.