![]() ![]() Here, we’ll use the NPER (number of periods) function in Excel. This lets you then adjust the rate or payment to increase or decrease the number of years for repayment. With the interest rate, payment amount, and loan amount, you can see the term in years. Maybe you’re trying to decide the best loan term for your situation. Tip: To calculate a monthly interest rate rather than yearly, remove the *12 from the end of the formula. Now you can see the interest rate you’re paying on the loan with a simple formula. You would enter the following formula in cell B5 to calculate your interest rate: Here, we have our loan term in years in cell B2, monthly payment in cell B3 (entered as a negative number), and loan amount in cell B4.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |