How To Calculate Interest Rate From Emi In Excel Things to Remember Understanding EMI Equated Monthly Installment or EMI for short is a set monthly payment made by a borrower to a lender on a particular date EMIs are frequently used to pay back loans including personal auto and home loans Input Data You must collect the required input data before you can calculate the EMI in Excel The sum of the loan the interest rate and the
Step 3 Use Excel functions In Excel use the appropriate functions such as PMT PV and RATE to input the known values EMI and P and solve for the rate of interest r Step 4 Validate the result After calculating the rate of interest using Excel validate the result by cross checking it with other methods or financial calculators Method 1 Calculate EMI Use the PMT function to calculate EMI and then produce the EMI calculator taking some values With these values calculate the EMI and at the same time and produce the EMI calculator Calculate the monthly interest as we have our principal amount interest and tenure
How To Calculate Interest Rate From Emi In Excel
How To Calculate Interest Rate From Emi In Excel
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Where Nper required the total number of payment periods such as years months quarters etc Pmt required the fixed payment amount per period that cannot be changed over the life of the annuity Usually it includes principal and interest but no taxes Pv required the present value i e the current value of the loan or investment Fv optional the future value i e the Here s how you can use it to calculate your EMI PMT rate nper pv Where rate is the interest rate for each period monthly in this case nper is the number of periods total number of payments pv is the present value or the principal of the loan Let s break it down with our example Monthly Interest Rate Divide the annual interest
Repayment tenure Longer the loan tenure the lower will be your loan EMI Loan interest rate Higher the interest rate of a loan the higher will be your EMI Down payment amount This is an indirect factor The bigger the downpayment the lower will be the loan amount And in turn the lower will be the monthly EMI Home Loan EMI Calculations The EMI is Equated Monthly Installment It is easy to calculate EMI in Excel Layout the information you already know without EMI calculation Click on the column that is beside the monthly installment and type in Note The rate is interest divided with payment year nper is loan terms multiplied by count of payments pv was the loan
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One use of the RATE function is to calculate the periodic interest rate when the amount number of payment periods and payment amount are known In this example we want to calculate the annual interest rate for 5 year 5000 loan and with monthly payments of 93 22 The RATE function is used like this RATE C7 C6 C5 C8 To calculate EMIs and interest for Personal Loans using Excel input the loan amount annual interest rate and loan tenure into separate cells Then use the formula PMT B2 12 B3 B1 in the EMI cell where B2 is the interest rate B3 is the tenure and B1 is the loan amount
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How To Calculate Interest Rate From Emi In Excel - Repayment tenure Longer the loan tenure the lower will be your loan EMI Loan interest rate Higher the interest rate of a loan the higher will be your EMI Down payment amount This is an indirect factor The bigger the downpayment the lower will be the loan amount And in turn the lower will be the monthly EMI Home Loan EMI Calculations