Hi, I am using microsoft excel on a windows computer. I am going to pay my mortgage payments soon. I have heard that excel can make the calculations easier. How can I calculate mortgage payment in excel?
First thing you should do is open up microsoft excel. Then, if you know how to use excel, just create a table as shown in the picture:
(Do the formatting according to what you like)
Then, enter the values accordingly, against each row.
Apply the following formula on B9: B7 * B8
This will calculate your total payments.
To calculate monthly payments, there is another formula that can help you.
It uses the PMT function as given below:
PMT(B6/B8, B9, B5, 0)
