Press F9 repeatedly to watch how values change. The Random Rate Change option can be fun to play with. Rather, it is designed to help you simulate what might happen if rates increase or fall. Variable Rate Simulation: This feature of the calculator is not meant to try to predict future rates. If you do that, you should probably highlight those cells so that you can identify that they no longer contain formulas. Tracking Payments: You can manually enter the Payment Date, Interest Rate, and Payment within the table if you want to track your actual payments, by overwriting the formulas. Read the Cell Comments: Most of what you may need to know about this HELOC calculator can be found by reading the comments identified by the little red triangles in many of the cells. Original Loan Amount: The principal amount that you’re borrowing from the bank. For instance, this time ranges from 15 to 30 years in the case of home mortgages, while for car loans, this time ranges between 3-5 years. Please do report an error if you suspect there may be one, but don't expect the calculations to match exactly. Original Loan Terms (Years): The total time taken to pay off the loan. Due to the complexity of the spreadsheet, it wouldn't surprise me if the spreadsheet contains errors. There are many assumptions and simplifications built into the home equity line of credit calculator, so don't expect the amounts to match exactly with your bank.
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