Debt Reduction Spreadsheet

Here is the Excel spreadsheet ported to Numbers 3.1

https://dl.dropboxusercontent.com/u/54961502/For%20Apple%20Forums/debt-reduction -calculator.numbers.zip

I didn't try to make it pretty. There are too many formulas for me to want to change the structure from Excel's monolithic tables or to arrange things so it made more sense.

I am assuming the Excel spreadsheet gave correct answers. I did a limited test of the Numbers version against the Excel version and they worked the same in all tested cases. But I have to say it is difficult to go through a large imported spreadsheet looking for the instances where Numbers replaced a formula with a value. It is easy to miss one (or more).

I don't know why the original author chose to use array formulas and chose to use a few named variables instead of using cell values. It wasn't that much more efficient and for the "months to pay off" formula it was much more complex than it needed to be. All array formulas were easily replaced with regular formulas. All named variables (hopefully I found all cases where they were used) were easily substituted with simple expressions based on cell values.

Alysson,

I looked at the download spreadsheet that you referenced. With over 8,000 unsupported formulas, I don't think it would be worth trying to rework it. It might make more sense to install the free LibreOffice and run with that.

Jerry

over 8,000 unsupported formulas, I don't think it would be worth trying to rework it.

I was intrigued and checked it out in Excel. Lots of array formulas. Are array formulas coming to Numbers anytime soon? 🙂

SG

I must have lost track of this one last year. That spreadsheet doesn't look all that hard to replicate in Numbers. The array formulas I saw are not necessary; they could be replicated with regular formulas (and in one cell each, not requiring extra columns/rows to do calculations). One table simply has a problem with unnecessary use of Excel's NA function; easily fixed. I'm going to take a crack at it and see how it goes. Hopefully I won't run into any difficulties.

SGIII wrote:

over 8,000 unsupported formulas, I don't think it would be worth trying to rework it.

I was intrigued and checked it out in Excel. Lots of array formulas. Are array formulas coming to Numbers anytime soon? 🙂

SG

If I knew, I'd be sworn to secrecy.

J.

Wow, Thank you sooo much for converting that from Excel! Unfortunetley, I am on OS 10.7.5 Because my early 2008 MB can not get a higher OS. That being said, I have an earlier version of Numbers. Is there a way to save that as an earlier version?

Ironically, the reason I need the spreadsheet is so I can get out of debt and get a new computer. Go figure.... ugh..

Thank you!!!!!

Jonathan

Here is an export to Numbers '09. It is slower to calculate in Numbers '09, you'll see the spinning wheel with every change but it will get there in a few seconds.

https://dl.dropboxusercontent.com/u/54961502/For%20Apple%20Forums/debt-reduction -calculator%20Numbers09.numbers.zip

It is amazing how big a difference in total interest there can be between these methods of payback.

Badunit!

What can I say but thank you!!!!! That works perfectly. Yup, It's a lot of incestive to pay it off faster. Im lookin at 40mths to go before Im done 😮... Gotta start somewhere and this is a great way to keep it all on track.

Thanks again!

Side note...

Im new to the meessage board as Im not sure where I should post the following quesiton/statement.... but shouldn't there be debt reduction Templates that already come with Numbers?? Maybe they have it in a new version of Numbers and I just don't know about it.

There is a loan comparison template and a mortgage calculator template. Those are kind of the basic ones most people would need. The Debt Reduction Calculator is a little more complex than most templates. Excel didn't come with it either; it was someone else's creation.

I would think that if you want to pay off a collection of loans with as little interest (i.e., wasted money) as possible, you would make the minimum required payment on all of them and then use whatever else you have to pay down the one with the highest interest rate. When that one is paid off completely, continue the process and attack the one with the next highest interest rate. Credit card debt is typically the worst offender.

Thanks for sharing this. Even when so much time had passed from the original post. It's nice to see people who follow through on such things.

There's a good chance your Numbers sheet will help me do what I was looking to do. I'll check it out just as soon as I hit the Reply button in a second. ;-)

I know an old post, but I just used this today and it worked great. The person I am trying to help has a MAC, like I do, so it was better to share on a Numbers spreadsheet than use a google doc version (which works great too).

I don't know what one of these looks like. Can you post a link to an Excel version you like?

I been looking for the same thing. Have you been able to find anything? Please Advise

Jonathan

AWESOME!!!! was just looking to find something like this and this is the first thread that popped up!!! THANKS