In this article we are going to learn about how to calculate loan payments. Formulas that calculate loan payments, principal, interest and more are found in the financial category in the Paste Function dialog box.
Below are the Monthly payment formula in Excel:-
Syntax for loan calculation formula:-
Rate – The interest rate per period.
Per – The period for which the interest rate is calculated.
Nper – The total number of payments.
Pv – The present value, the total amount that a series of future payments is worth now.
Type – The timing of the payment, either at the beginning or end of the period. Numbers 0 or 1 represent the payment date. The number 0 represents payment at the end of the period, and the number 1 represents payment at the beginning of the period. The default (empty argument) is 0. The calculation is at the end of the period.
PMT (Rate, Nper, -Loan Amount)
PPMT (Rate, Which Period, Nper, -Loan Amount)
NPER (Rate, Pmt, -Loan Amount)
RATE (Nper, Pmt, -Loan Amount)
PV (Rate, Nper, Pmt)
Below are the links where you can download the Excel of Loan calculator along with the steps:-
These are the tips where will get know how to use loan calculation formula to create the Excel loan Calculator.
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