Excel formula: Calculate payment for a loan | ExceljetSchedule Loan Repayments With Excel FormulasHow to Calculate Monthly Loan Payments in Excel Schedule Loan Repayments With Excel FormulasTo calculate a loan payment amount, given an interest rate, the loan term, and the loan amount, you can use the PMT function. In the example shown, the formula in C10 is: = PMT(C6 12, C7, - C5)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 rate period is We use the formula = (1 + B5) is 12-1 ^ = (1 + %) ^ 12-1 to obtain the annual rate of our loan, which is In other words, to borrow $120,000 over 13 years ;· To calculate monthly payments for a loan using Excel, you’ll use a built-in tool called the PMT function. What Is the PMT Function in Excel? The PMT function calculates monthly loan payments based on constant payments and a constant interest rate. It requires three data points: Rate: Interest rate of the loan. Nper (number of periods): The number of loan payments

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