How To Build A Mortgage Calculator For Free in Microsoft Excel
One of the really cool parts aspects of Microsoft Excel is the functions Microsoft has created for you to use. This means that rather than have to develop a function from scratch you can use pre-built ones to do a plethora of tasks like Building your own Mortgage Calculator. The Mortgage Calculator or PMT function is just one of many Financial Functions available.
Okay, so how to build a mortgage calculator
The first thing we have to do is to start by setting up a few basic headings. So lets begin by starting a new workbook and clicking in the first cell A1. Enter into cell address A1 the heading – Monthly Loan Repayments. Next off, enter into cell address A2 – Amount of Loan, cell address A3 – Interest Rate, cell address A4 – Length of Loan and then in A6 – Monthly Repayment.
In example mortgage calculator, we will take the Loan Amount, Interest Rate and Length of Loan and calculate your Monthly Repayment. Okay so in the corresponding field B1 enter the value of $200,000 and make sure you format the field as a currency. In cell B2...
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