Excel Wizards

[Keod2]

I have a random question for any MS excel wizards out there, does anybody know what formula to use in order to track my current loan amount in excel?

So if I give an example if I had a loan of £4000 and was repaying £100 a month I want excel to know which month it is currently now and minus £100 off of the total loan amount without input from me. For example if the loan was taken out in July in August I want excel to show the loan as £3900 automatically as it now detects its august and has taken this amount away from it.

I want to do this so I can keep track of my families loans as logging into the many various accounts is quite tedious. I always pay my monthly direct debits so the excel document will stay true to life.

Thankyou in advance!

 

[Keod2]

Hi thankyou for your reply, I dont mind about it being the specific date just the overall month ie July, August etc, with your formula where am I putting the -100 and where do I tell it which cell the overall amount is, ie the 4000? My knowledge of excel isnt fantastic so you will have to spoon feed me somewhat lol

 

[Keod2]

Thankyou for further explaining, so I used the formula and it is coming back as 4000, is that because it sees this as the first month and from august it will deduct the correct amount?
https://i.imgur.com/1zAmKR9.png

 

[Keod2]

Thankyou very much I have implemented this on my spreadsheet now and I can confirm that it is working! You are indeed a wizard