Excel formula: Calculate payment for a loan | ExceljetExcel formula: Calculate payment for a loan | ExceljetTOTAL LOAN COST FORMULA and CALCULATORTOTAL LOAN COST FORMULA and CALCULATORSolving For Loan Cost Total Use the above formula to determine the total amount you will pay for a loan. Example: If we borrow $100,000 for 10 years at 8 per cent annual percentage rate, what is the total cost of the loan (principal plus interest) ? 1) The rate (r) would be 8 divided by 1,200loan payment = loan balance x (annual interest rate/12) In this case, your monthly interest-only payment for the loan above would be $ Knowing these calculations can also help you decide which loan type would be best based on the monthly payment calculate a loan payment amount, given an interest rate, the loan term, and the loan amount, you can use the PMT function. In the example shown, the formula in C10 is: = PMT(C6 12, C7, - C5)11/12/2014 · Most of us will consider borrowing money for a home or other purchase at some point in our life. This tool allows us to calculate monthly payment, total

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