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how to calculate compound interest on a loan in excel. P the principal starting amount. To do this we configure the PMT function as follows.
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We divide 5 by 12 because 5 represents annual interest. This formula looks more. Rate the interest rate per compounding period.
You need the beginning value interest rate and number of periods in years.
Initial investment 1 annual interest ratecompounding periods per year years compounding periods per year. But this time it will also be the interest on top of interest from the previous month. If your yearly Interest rate is 600 then your monthly rate is 612 05 The first month the bank will calculate Interest as 05 of your outstanding Loan Balance and add it to your Loan Balance. Simple loan calculator and amortization table Know at a glance your balance and interest payments on any loan with this loan calculator in Excel.
