The formula for calculating your Payment per Period value relies on the following information in the following format. Doing so will calculate the amount that youll have to pay in interest for each period. When calculating monthly or quarterly payments we need to convert annual interest rates or the number of periods to months or quarters.
Type IPMT B2 1 B3 B1 into cell B4 and press Enter.
Save the workbook file with an appropriate and descriptive name. 512 or 00512 or the corresponding cell in this case C312. Click here to download the sample Excel file. RATE C212 C3C4 Please note that C2 contains the number of years.