In the Daily Loan Interest formula, insert annual loan balance but not total loan balance.Read more: Car Loan Calculator in Excel Sheet – Download Free Template ❷ Enter the annual interest rate in cell D5.Īfter doing this, you will see your monthly loan interest is calculated already in cell D7 which is $625. ❶ Enter the annual loan balance in cell D4. Now calculate the amount of money that you need to pay back monthly as loan interest. Suppose, you took a loan of $50,000 from ABC bank with an annual interest rate of 15%. Read more: How to Calculate Monthly Interest Rate in ExcelĪn Example of the Application of the Monthly Loan Interest Calculator in Excel All you need to do is to insert the annual loan balance as well as the annual interest rate. So this is your monthly loan interest calculator. ❹ Now press the ENTER button to execute the formula. ❷ After that insert the following formula in cell C14 to calculate the Monthly Payment amount. For this instance, I have used cells C4, C5, C6, C11 respectively. ❶ Allocate cells to input Total Loan Amount, Annual Interest Rate, Period of Loan, and Payments Per Year. To Create the daily compound loan interest calculator, In the calculator below, you need to insert,Īfter inserting all of these, you will get the amount of monthly payment in cell C14 and in cell C15 you will get the daily compound loan interest calculated. The formula to calculate the compound loan interest is,Ī = The final amount that you need to pay back To calculate the daily compound loan interest you need to know,
Read more: Create Late Payment Interest Calculator in Excel and Download for Freeĭaily Compound Loan Interest Calculator in Excel 12% in cell D5.Īfter that, you will see the daily loan interest has been already calculated for you. ❷ Then again insert the annual interest rate i.e.
❶ Insert the annual loan balance amount i.e. Now if we input these two data into the daily loan interest calculator that we’ve created, we can easily calculate the daily loan interest amount that you need to pay. Now, what is the amount of the daily loan interest that you need to pay again the amount of money that you have taken as a loan? You need to pay a 12% interest rate on the loan amount annually. Suppose, you’ve taken a loan of $5,000,000 from X bank for 1 year. And then you are ready to go.Īn Example of the Application of the Daily Loan Interest Calculator in Excel The next time, all you need to do is to input the annual loan balance and annual interest rate in cells D4 & D5.
So you can use the above calculator to find the daily loan interest. ❸ To execute the above formula, press the ENTER button.
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