How to Calculate a Loan Payment, Interest, or Term in Excel
Because of its functions and features, Excel is a great application for budgeting along with managing your money. If you already use it for finances, make your spreadsheet even more effective by calculating loan elements like payments, interest, or terms.
Maybe you are contemplating a new car loan and want to know the payment ahead of time. You can use Excel to adjust the interest rate and payment term to see what you can afford. At the same time, you may have payment information on a current loan and want to see your interest rate or payment term.
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