Find out how long it will take to pay off a personal loan. Imagine that you have a $2,500 personal loan, and have agreed to pay $150 a month at 3% annual interest. Using the function NPER(rate,PMT,PV) =NPER(3%/12,-150,2500) it would take 17 months and some days to pay off the loan. The rate argument is 3%/12 monthly payments per ;· Figure 1: Use Excel’s NPER function to calculate the payment term for a loan. For longer term loans, NPER may return a large number of months, such as 94, which can be difficult to convert to months in your head. Let’s extend our calculations to make the output more ;· For example, a 30-year mortgage paid monthly will have a total of 360 payments (30 years x 12 months), so you can enter "30 12", "360", or the corresponding cell (in this case, C4) 12. If you wanted to calculate a five-year loan that's paid back monthly, you …In the first period column, enter "1" as the first period and then drag the cell down. In our case, we need 120 periods since a 10-year loan payment multiplied by 12 months equals 120. The same calculation could have been performed quickly using Excel’s CUMPRINC function: CUMPRINC(rate,life_of_loan,amount_of_loan,start_period,end_period,type) This requires explanatory notes: Again, the rate is the periodic rate (here , not 6%). life_of_loan is the total length of the loan, not just to date. This is needed to calculate implicitly the regular repayment Tip: Determining the Remaining Length of a Loan How to Calculate the Number of Months to Pay Off a Loan Excel Loan Payment Schedule Template - ContexturesExcel Loan Payment Schedule Template - ContexturesCalculate total interest paid on a loan in Excel For example, you have borrowed $100000 from bank in total, the annual loan interest rate is , and you will pay the bank every month in the coming 3 years as below screenshot will take 68 payments to pay off your loan. Calculator tips. Your payments add up to $38, This includes your payments to interest which add up to $3, over the life of the loan. This calculator uses monthly compounding and monthly payment frequency. Calculator disclaimer.

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