XL calculation formula
I've been looking, without luck, for formulas in Excel to calculate
interest, let's say for buying a house, car... Basically it could be a FORMULA, TEMPLATE or WEBSITE (on how to set it) and something simple for starters like me. Lets say I give this information : price of house ( $ ) interest ( 5% fixed) amount of years of ref. ( ej. 30) Then the expected outcome in other cell will be The monthly payments coming from equal division of those 30 years after applying the 5% to the loan. Calculation will vary depending on the amount, years and percent rate for each case. If someone have formulas just throw it in, I can manage to work it out with the cells. A downloadable template or website also will be appreciate it. THANKS in advance. -- Socrates said: I only know, I don''''t know nothing. I say : I don''''t even know, I don''''t know nothing. |
XL calculation formula
Have a look in Help at PMT
Remember if annual rate is 5% and you are paying monthly then use 5%/12 for rate and years*12 for the period (numbers of payments) To get more info and link to templates, Google with : EXCEL LOAN PAYMENT best wishes -- Bernard V Liengme Microsoft Excel MVP www.stfx.ca/people/bliengme remove caps from email "Learning Excel" wrote in message ... I've been looking, without luck, for formulas in Excel to calculate interest, let's say for buying a house, car... Basically it could be a FORMULA, TEMPLATE or WEBSITE (on how to set it) and something simple for starters like me. Lets say I give this information : price of house ( $ ) interest ( 5% fixed) amount of years of ref. ( ej. 30) Then the expected outcome in other cell will be The monthly payments coming from equal division of those 30 years after applying the 5% to the loan. Calculation will vary depending on the amount, years and percent rate for each case. If someone have formulas just throw it in, I can manage to work it out with the cells. A downloadable template or website also will be appreciate it. THANKS in advance. -- Socrates said: I only know, I don''''t know nothing. I say : I don''''t even know, I don''''t know nothing. |
XL calculation formula
Hi,
You could consider the PMT, PPMT, and IPMT functions. These work for fixed interest loans, not variable. The PPMT calculates the portion of the payment that goes to principle, IPMT calculates the portion that goes to interest and PMT calculates the total, or you can just add PPMT to IPMT. The Rate arguments usually are something like 5%/12 for the monthly rate and the Nper (number of periods argument) is usually 30*12 (years*months/per year) because payments are made on a monthly basis. -- Cheers, Shane Devenshire "Learning Excel" wrote: I've been looking, without luck, for formulas in Excel to calculate interest, let's say for buying a house, car... Basically it could be a FORMULA, TEMPLATE or WEBSITE (on how to set it) and something simple for starters like me. Lets say I give this information : price of house ( $ ) interest ( 5% fixed) amount of years of ref. ( ej. 30) Then the expected outcome in other cell will be The monthly payments coming from equal division of those 30 years after applying the 5% to the loan. Calculation will vary depending on the amount, years and percent rate for each case. If someone have formulas just throw it in, I can manage to work it out with the cells. A downloadable template or website also will be appreciate it. THANKS in advance. -- Socrates said: I only know, I don''''t know nothing. I say : I don''''t even know, I don''''t know nothing. |
XL calculation formula
I did both, Thanks Bernard for you help and time.
I also found out is was not as simple as I presumed, but excel is a great and wonderfull program. Thanks also to all participants in this forum. -- Socrates said: I only know, I don''''t know nothing. I say : I don''''t even know, I don''''t know nothing. "Bernard Liengme" wrote: Have a look in Help at PMT Remember if annual rate is 5% and you are paying monthly then use 5%/12 for rate and years*12 for the period (numbers of payments) To get more info and link to templates, Google with : EXCEL LOAN PAYMENT best wishes -- Bernard V Liengme Microsoft Excel MVP www.stfx.ca/people/bliengme remove caps from email "Learning Excel" wrote in message ... I've been looking, without luck, for formulas in Excel to calculate interest, let's say for buying a house, car... Basically it could be a FORMULA, TEMPLATE or WEBSITE (on how to set it) and something simple for starters like me. Lets say I give this information : price of house ( $ ) interest ( 5% fixed) amount of years of ref. ( ej. 30) Then the expected outcome in other cell will be The monthly payments coming from equal division of those 30 years after applying the 5% to the loan. Calculation will vary depending on the amount, years and percent rate for each case. If someone have formulas just throw it in, I can manage to work it out with the cells. A downloadable template or website also will be appreciate it. THANKS in advance. -- Socrates said: I only know, I don''''t know nothing. I say : I don''''t even know, I don''''t know nothing. |
XL calculation formula
THANKS! ShaneDevenshire, information was great.
-- Socrates said: I only know, I don''''t know nothing. I say : I don''''t even know, I don''''t know nothing. "ShaneDevenshire" wrote: Hi, You could consider the PMT, PPMT, and IPMT functions. These work for fixed interest loans, not variable. The PPMT calculates the portion of the payment that goes to principle, IPMT calculates the portion that goes to interest and PMT calculates the total, or you can just add PPMT to IPMT. The Rate arguments usually are something like 5%/12 for the monthly rate and the Nper (number of periods argument) is usually 30*12 (years*months/per year) because payments are made on a monthly basis. -- Cheers, Shane Devenshire "Learning Excel" wrote: I've been looking, without luck, for formulas in Excel to calculate interest, let's say for buying a house, car... Basically it could be a FORMULA, TEMPLATE or WEBSITE (on how to set it) and something simple for starters like me. Lets say I give this information : price of house ( $ ) interest ( 5% fixed) amount of years of ref. ( ej. 30) Then the expected outcome in other cell will be The monthly payments coming from equal division of those 30 years after applying the 5% to the loan. Calculation will vary depending on the amount, years and percent rate for each case. If someone have formulas just throw it in, I can manage to work it out with the cells. A downloadable template or website also will be appreciate it. THANKS in advance. -- Socrates said: I only know, I don''''t know nothing. I say : I don''''t even know, I don''''t know nothing. |
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