I am trying to create a simplified spread sheet to demonstrate the horrors of compounded interest on credit card debit. I have the start in Libre Calc but figure an array is needed. Set up either a calculation of the number of payments to pay off the loan to calculate the size of the array or check for when the balance results in 0 or less. First method would define the size of the array but how to set that up? The second would create another line until the loan (or FP) is paid off.
I am a nu-be at this stuff so go into great detail with your explanation. I have attached an example. I just performed a copy and paste of formulas. I wish to include total sums at the bottom showing total payments made and total interest accumulated.
credit card balamces.ods (16.5 KB)
