{"id":24564,"date":"2017-10-05T18:27:12","date_gmt":"2017-10-05T18:27:12","guid":{"rendered":"http:\/\/www.oracletutoring.ca\/blog\/?p=24564"},"modified":"2017-10-05T18:29:16","modified_gmt":"2017-10-05T18:29:16","slug":"spreadsheets-excel-finding-the-monthly-loan-payment","status":"publish","type":"post","link":"https:\/\/www.oracletutoring.ca\/blog\/spreadsheets-excel-finding-the-monthly-loan-payment\/","title":{"rendered":"Spreadsheets: Excel: finding the monthly loan payment"},"content":{"rendered":"<h1>Tutoring financial math, spreadsheets might be used. The tutor shows how to find the monthly payment on a loan using Excel.<\/h1>\n<p>In <a href=\"?p=24552\">yesterday&#8217;s post<\/a> I tell how to find the amount against the principal that a certain payment removes, using the ppmt function.<\/p>\n<p>Perhaps more directly, a person might wonder how to calculate the monthly payment in the first place. Here&#8217;s how:<\/p>\n<p><strong>Example: Imagine a 25-year, $100,000 loan at 4% compounded monthly, with monthly payments as well. Find the monthly payment.<\/strong><\/p>\n<p>Solution: Using Excel, you&#8217;d enter<\/p>\n<p>=pmt(4%\/12, 300, 100000)<\/p>\n<p>300 means the total number of payments: 12 per year for 25 years. The payment is assumed to be at month&#8217;s end.<\/p>\n<p>Hopefully, the answer will come to -527.84, the negative meaning money paid out (as opposed to received).<\/p>\n<p>Jack of <a href=\"https:\/\/www.oracletutoring.ca\">Oracle Tutoring by Jack and Diane,<\/a> Campbell River, BC.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tutoring financial math, spreadsheets might be used. The tutor shows how to find the monthly payment on a loan using Excel. In yesterday&#8217;s post I tell how to find the amount against the principal that a certain payment removes, using &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"more-link\" href=\"https:\/\/www.oracletutoring.ca\/blog\/spreadsheets-excel-finding-the-monthly-loan-payment\/\"> <span class=\"screen-reader-text\">Spreadsheets: Excel: finding the monthly loan payment<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1583,2014],"tags":[2529,2528],"class_list":["post-24564","post","type-post","status-publish","format-standard","hentry","category-excel","category-financial-math","tag-finding-monthly-loan-payment-using-excel","tag-finding-mortgage-payment-using-excel"],"_links":{"self":[{"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/posts\/24564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/comments?post=24564"}],"version-history":[{"count":28,"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/posts\/24564\/revisions"}],"predecessor-version":[{"id":24592,"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/posts\/24564\/revisions\/24592"}],"wp:attachment":[{"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/media?parent=24564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/categories?post=24564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oracletutoring.ca\/blog\/wp-json\/wp\/v2\/tags?post=24564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}