How Can I Calculate Mortgage Payment In Excel?

Asked By Kevin Molina 10 points N/A Posted on - 11/08/2016

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?

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Answered By Janet D Rivera 10 points N/A #277875

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)

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• Posted on - 11/08/2016
• Question Category: MS Excel