One good thing about the loan calculator excel template with compound interest formula it is able to produce a schedule for a loan repayment unlike simple online calculators which can only give you simple answers to your loan calculations. In order to do so, you need to input certain information regarding the loan repayment. The first input needed in the loan calculator excel template is the rate is interest. Next input is the amount that you have borrowed or loaned. Third input is the time period of the loan. After these inputs, you will now be able to see how much your monthly payment is.
The first on the three common loan calculator excel template is the Static Rate Old-style Loan Calculator.
This type of loan calculator excel template is mainly for studying old-style static rate of loans. Examples of static interest loans are auto loans and mortgages. With this type of loan calculator excel template, you can add up to a thousand compensation stages. The compensation occurrence is also flexible, so you dont need to worry. There will be an automated diagram that will be presented for repayment timetable purposes as well for your convenience.
The second one on the three common loan calculator excel template is the Static Rate Lump Sum Loan Calculator.
This type of excel template for loan is mainly for studying loans that involves paying a large amount of cash as completion to the loan repayment. Again, this can add up to a thousand records of compensation. The flexible attributes of this loan excel template are the compensation occurrence, repayment origin and the static rate of compensation time. Again, there will be an automated diagram that will be presented to help you study the analysis of the original borrowed amount and compensation of interest over the loan period.
The last one on the three common loan calculator excel template is the Static Rate of Interest Loan Calculator.
This loan calculator excel template is mainly used for studying the static rates of a loan. The said loan has a scheduled give time where the compensation will only suffice for the loans interest only. With this type of loan, compensation at the first phases will be a bit less. For the later part of the loan, compensation will get bigger. Since MS Excel is used in this type of loan calculator excel template, again, it can add up to a thousand records. The compensation occurrence and the loan phase, where the payments will only compensate for the loans interest, are the attributes that will be flexible. An automated diagram will also be presented to help us know the whole repayment timetable of the loan.