Scheduled balances

In the last exercise, we needed to amortize loans to get a scheduled principal balance. We did this because between September 21, 2021 and the settlement date, October 13, 2021, borrowers will need to make their October payment, which will reduce the total principal balance of loan population.

However, we realized that some loans had already made their October payment, so we didn't need to apply payments to those loans. This is not good because we subtracted too much principal from those loans.

We can solve this problem by writing an IF() statement to apply the principal payments only to the loans that need to make their October payment.

If you have lost progress, close any open workbooks and load 1_5_paying_principal_solution.pbix from the Exercises folder on the Desktop.