If you have an interest-only loan, calculating the monthly payment is exponentially easier (if you'll pardon the expression). Here is the formula the lender uses to calculate your monthly payment: loan payment = loan balance x (annual interest rate/12) In this case, your monthly interest-only payment for the loan above would be $ ;· The formula that we will use to help us out is called the loan payment amount formula. It is this: It is this: M is the monthly payment, P is the loan amount, J is the monthly interest and N the To 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 )How to calculate loan payments in 3 easy stepsCalculating Monthly Loan Payments - Video & Lesson Excel formula: Calculate payment periods for loan | ExceljetCalculating Monthly Loan Payments - Video & Lesson

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