olzdv.blogg.se - Use excel to calculate student loan repayment

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All you have to do in enter the payment amounts as you make payments, and Excel should do the rest. Then just configure your formulas for each loan, and drag the formulas down every new month. If you have the APRs, you can just divide by 12 for the monthly rate. $X$1) or be part of a lookup to use the Column Name to find it. You could have a reference table for the APRs of your loans:Īnd then the "interestRate" variable in my formula above could either just reference the static field (e.g. =(loanStartingAmount * interestRate) - loanPayment So Row 2 of this sheet would have the following for Loan 1: Since your loans have a static interest rate at present, you just need to hard code the starting balance, and then reference your monthly payments with the relevant interest rate in the calculation. Should be a straight forward calculation. They are identifiable with a special user flair.Ī community since MaAsking a question? Describe if you are using Excel (include version and operating system!), Google Sheets, or another spreadsheet application. Occasionally Microsoft developers will post or comment. Recent ClippyPoint Milestones !Ĭongratulations and thank you to these contributors Date

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