How to Use Excel’s Loan Calculator Template
Written by co-founder Kasper Langmann, Microsoft Office Specialist.
A loan payment calculator is a must-have tool if you’re planning on taking out a loan.
It’s a good way to determine how the loan amount, its interest, and the loan term affect the total amount you’ll be paying.
If you want to make your own, the ‘PMT’ function in Excel, coupled with other functions, can be used to create a loan payment calculator.
But if you like the easier and quicker way, you can download and use existing loan calculator templates online.
*This tutorial was written in Microsoft Excel 2019 for Windows. Got a different version? No problem, you can still follow the exact same steps.