Excel is a great tool to organize your personal finances in the face of so many reasons. You can store information about monthly payments co-residents, perform calculations on data even manage your own budget and the economy.
To use Excel is the way to do this is to perform what-if scenarios, when the vehicle is an important source of economic decision. One such decision which Excel generally used is different from the mortgage loan scenarios you are considering training as a mortgage to find out.
When you shop for different loan quotes of different lenders, it's a good idea to quickly and easily in the determination of the amount of each monthly payment amounts. And knowing that payments can help you determine the used three significant variables (but only for the duration of the common system of taxation applicable to interest and the mortgage loan amount) that allows you to give you the best mortgage.
If you are looking for a mortgage calculator Excel formula, here's a quick determination of the calculation of:
1. Write down three relevant variables: the variables that the importance of this calculation is the interest rate, mortgage period (expressed in years) and the amount of the loan.
2. Enter the formula in THE PMT () free cell in an Excel spreadsheet: this is how: the interest rate of 5% is assumed you are considering a 30-year period of the loan and the loan amount of $ 100 000. Here is the formula, type Excel:
= PMT (5%/12,30 * 12,100000)
(In this case, is the correct result: $ 536.82)
Note that you are using, the result is expressed as a negative number, because this is the amount you owe on a monthly basis. If you are viewing the positive outcome of the case much happier, type the formula in the following ways:
= ABS (PMT (5%/12,30 * 12,100000))
3. compare the different turnover figures sent to mortgage scenarios by copying the formula down or over several cells: If you want to compare several scenarios, just copy this formula into multiple cells and enter the different numbers of the above three variable.
When you get the hang of this, you can also create a simple table to a different combinations (categories, home value, the interest rate and mortgage period) for the three variables. After this, you can replace the PMT () in the formula (above) to be lower than the actual figures that refer to the table soluviittauksilla, which represents a different combination of variables for each row. This makes it easier for you to quickly compare the combination of which produces what monthly payment.
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