The Loan Calculator for Excel is an ideal solution to evaluate how a loan's terms will affect the borrower's payment obligations. The model is fully-customizable and accommodates loans with up to 500 payment periods.
The principal amount, interest rate, payment frequency and the length of the loan can be entered into the Loan Calculator for Excel and a payment table is automatically generated.
Upcoming payments and each payment's breakdown between principal and interest is displayed. An additional feature is the ability to make extra payments each period.