calculate loan amount based on interest rate and period in Excel
Q25. In Excel, how do I calculate monthly payment given Loan amount, Rate of Interest and period?
To do it in Excel, here is the answer:
a) Enter the formula =PMT(D3/12,D4*12,-D2) where D2 corresponds to "Debt Amount", D3 corresponds to Rate of Interest per annum and D4 corresponds to the period in years.