![]() ![]() NOTE: All of the table cells contain formulas.The monthly payment is $149.85, and that amount appears in each row of the payment schedule, in column C. In the screenshot below, the loan is $5000, over 36 months, at an annual rate of 5%. For example, if you borrow $10000 over 48 months, at a rate of 4.5%, the monthly payment is $228.03.īelow the loan information cells, there is a loan payment schedule, with all the monthly payment details. ![]() You can try different loan numbers in the green cells, to see how they affect the monthly loan payment amount. If you're interested in how the formula works, there are details further down on this page. If you select the cell with the monthly payment calculation, you can see the formula in the Excel Formula Bar. ![]() WARNING: Check with your loan company to confirm the exact dates and amounts - they might use different calculations. For example, with a loan amount of $5000, over 36 months, at an annual interest rate of 5%, the monthly payment is calculated to be $149.85. Annual Rate: The annual rate of interest for the loanĪfter you enter the loan information on the spreadsheet, the PMT function in the yellow cell (E2) calculates the monthly payment.Months: The number of months over which you'll pay back the loan.Loan Amount: The amount you are borrowing.First Payment: The date when you'll make your first loan payment.Just fill in the 4 green cells at the top of the worksheet: This Excel loan payment schedule is simple to use. ![]()
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