Hello Forum Members,
I'm currently working on financial planning and need assistance with calculating monthly loan payments in Excel. I want to ensure accuracy in my calculations, and any guidance would be greatly appreciated.
Here are the details of my scenario:
- Loan Amount: [$100,000]
- Interest Rate: [5%]
- Loan Term: [12 years]
- Payment Frequency: [Monthly.]
- Start Date: [01/01/2024]
I've tried using the PMT function in Excel, but I want to make sure I'm incorporating all relevant factors such as compounding periods, and any other nuances. Could someone provide step-by-step instructions or a formula that I can use in Excel to accurately calculate monthly loan payments?
Additionally, if there are any other considerations or best practices I should be aware of when dealing with loan calculations in Excel, please feel free to share your expertise.
Thank you in advance for your help!
Hello Forum Members,
I'm currently working on financial planning and need assistance with calculating monthly loan payments in Excel. I want to ensure accuracy in my calculations, and any guidance would be greatly appreciated.
Here are the details of my scenario:
- Loan Amount: [$100,000]
- Interest Rate: [5%]
- Loan Term: [12 years]
- Payment Frequency: [Monthly.]
- Start Date: [01/01/2024]
I've tried using the PMT function in Excel, but I want to make sure I'm incorporating all relevant factors such as compounding periods, and any other nuances. Could someone provide step-by-step instructions or a formula that I can use in Excel to accurately calculate monthly loan payments?
Additionally, if there are any other considerations or best practices I should be aware of when dealing with loan calculations in Excel, please feel free to share your expertise.
Thank you in advance for your help!
ByAmos GikundaMar 6, 2024
