Building loan formulas

In this chapter, you will:

  • Understand the concept of the time value of money

  • Calculate loan payments, interest costs, and cumulative principal and interest payments

  • Build fixed-rate and dynamic loan amortization schedules

  • Determine the term of a loan given the interest rate, the regular payment, and the principal loan amount

  • Calculate the interest rate required for a loan given the loan term, the loan payment, and the loan principal

  • Figure out how much you can borrow given the interest rate, loan payment, and loan term

Excel is loaded with financial features that give you powerful tools for building worksheets that manage both business and personal finances. You can use these functions to calculate such things ...

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