How To Calculate Total Interest Paid On A Loan In Excel Method 3 Computing Capital Payment for a Certain Interest Rate on a Loan Let s dive into the PPMT function in Excel The PPMT function helps you determine the principal payment for a given period based on periodic constant payments and a fixed interest rate Here s how it works Syntax rate The interest rate per period per Specifies the payment period must be in the range 1
Calculate total interest paid on a loan in Excel For example you have borrowed 100000 from bank in total the annual loan interest rate is 5 20 and you will pay the bank every month in the coming 3 years as below screenshot shown Formula Breakdown The RATE function will return the monthly rate in percentage of Loan Payment C7 denotes the NPER as the total payment period in years which is 5 We have multiplied it by 12 for the monthly payment system C6 denotes the payment made in each period as PMT The Minus sign denotes the monthly payment as debit C5 denotes the Loan as present value PV
How To Calculate Total Interest Paid On A Loan In Excel
How To Calculate Total Interest Paid On A Loan In Excel
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With a few simple functions and your data you can easily get basic loan calculations in Microsoft Excel Calculate a Loan Payment in Excel For many people affording a new car involves knowing what the monthly payment will be To find out in Excel you simply need the basic loan information and a handy function Related 7 Essential Microsoft For example you can build a calculator to calculate the total interest paid on a loan based on the loan amount interest rate and period of payment In Excel there are 2 ways of doing this CUMIPMT function this returns the cumulative interest between a start and end period
Using Excel to Calculate the Payment and Total Interest on a Loan Figure 1 below illustrates all of the different variables that are needed to calculate the payment Here is a listing of the information titles in each cell in column A A2 Annual Interest Rate A3 Period Rate rate This is the Annual Interest Rate divided by the Payments Calculating total interest paid on a loan is crucial for financial planning and decision making Using Excel to calculate total interest paid involves inputting loan data using the PMT function and performing calculations Understanding the significance of total payments and total interest paid is essential for managing personal finances
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Loan Amount 5 000 000 00 The loan amount It must be entered as a negative value Yearly Rate 10 10 interest rate should be paid annually Period per Year 12 There are 12 months in a year Period 1 To get the result for the first month the input is 1 This value is variable Total Period year 25 The number of years allowed to pay off the total loan amount The result is a monthly payment of 266 99 to pay the debt off in two years The rate argument is the interest rate per period for the loan For example in this formula the 17 annual interest rate is divided by 12 the number of months in a year The NPER argument of 2 12 is the total number of payment periods for the loan
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