Using Excel’s fill down feature (bottom-right corner of a cell), carry down your formulas from Steps 5-8 through all the rows until you reach your last payment. Now you have successfully set up an ...

The Excel formula used to calculate the lending rate is: =RATE (12*B4;-B2;B3) = RATE (12*13;-960;120000) Note that the corresponding data in the monthly payment must be given a negative sign.

It can be used to solve the buy vs rent problem. The loan or mortgage amortization schedule usually achieved with the excel template in the financial world. One can simply use the formula to compute ...

– The interest rate on the loan – The term of the loan (i.e., length of time until it’s paid off) 2. Use an amortization formula. An amortization formula helps you determine how much of your monthly ...