Microsoft Excel Loan Calculator Template

Loan Calculator

Loan Amount ($) Loan Term (Years) Annual Interest Rate (%) Monthly Payment ($) Total Payment ($) Total Interest ($)

This Microsoft Excel loan calculator template helps users calculate the monthly payment, total payment, and total interest for loans based on loan amount, term, and interest rate.

Loan Formula

Monthly Payment = [Loan Amount * (Interest Rate / 12)] / [1 – (1 + Interest Rate / 12) ^ -Loan Term Months]

Example Calculation

Loan Amount: $10,000
Loan Term: 5 years
Interest Rate: 5%
Monthly Payment = $188.71

Why It Matters

Use this calculator to evaluate your loan affordability and understand how loan terms and interest rates impact your monthly payment and total interest.

Smart Strategy

Consider paying off loans faster to save on interest, or adjust your loan term based on your financial flexibility.

function calculateLoan(){ const loanAmount = parseFloat(document.getElementById(“loanAmount”).value); const loanTerm = parseInt(document.getElementById(“loanTerm”).value); const interestRate = parseFloat(document.getElementById(“interestRate”).value) / 100; if(isNaN(loanAmount) || isNaN(loanTerm) || isNaN(interestRate) || loanAmount <= 0 || loanTerm <= 0 || interestRate el.value = “”); }

Loan Calculator

Loan Formula

Example Calculation

Why It Matters

Smart Strategy

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