Simple Loan Calculator
https://www.vertex42.com/Calculators/simple-loan-calculator.html © 2008-2018 Vertex42 LLC
Periods (Payments) Per Year 12
Option A: Solve for the PAYMENT
Loan Amount $ 15,000.00
Annual Interest Rate 7.500%
Term of Loan (in Years) 5
PAYMENT $ 300.57
Total Interest $ 3,034.15
Option B: Solve for LOAN AMOUNT
Payment
Annual Interest Rate
Term of Loan (in Years)
LOAN AMOUNT ---
Total Interest ---
Option C: Solve for INTEREST RATE
Loan Amount
Term of Loan (in Years)
Payment
Annual INTEREST RATE ---
Total Interest ---
Option D: Solve for TERM of LOAN
Loan Amount
Annual Interest Rate
Payment
TERM of LOAN (in Years) ---
Total Interest ---
[42]
HELP
https://www.vertex42.com/Calculators/simple-loan-calculator.html © 2008-2018 Vertex42 LLC
About This Template
This spreadsheet uses the PMT, PV, RATE, and NPER formulas to
calculate the Payment, Loan Amount, Annual Interest, or Term
Length for a fixed-rate loan.
Note: This calculator is only for educational purposes. The results
are only estimates. The calculate does not include rounding, fees,
missed payments, and other factors that may be important when
making loan decisions. Please consult a qualified professional
regarding financial decisions.
Using This Template
Periods Per Year: The number of payments per year. Enter 12 for
Monthly, 52 for Weekly, 1 for Annual etc.
Loan Amount: This is the amount that you have borrowed. You can
also enter your current balance, if you also adjust the Term of Loan
to be the number of years left to pay off the loan.
Annual Interest Rate: This calculator assumes a fixed interest rate,
and the interest is compounded each period.
Payment (Per Period): This is the amount that is paid each period,
including both principal and interest (PI).
Term of Loan (in Years): Mortgage loans usually have 15 or 30-
year terms. Auto loans are usually between 2 and 5 years. For a 6-
month term, enter =6/12 or 0.5. If you entered your current balance
in the Loan Amount, then for the Term enter the number of years
you have left until your loan is paid off.
Additional Help
The link at the top of this worksheet will take you to the web page on
vertex42.com that talks about this template.
REFERENCES
SEE ALSO Vertex42.com: Debt Reduction Calculator
SEE ALSO Vertex42.com: Money Management Template
TIPS Vertex42.com: Spreadsheet Tips Workbook
Simple Loan Calculator
By Vertex42.com
https://www.vertex42.com/Calculators/simple-loan-calculator.html
© 2008-2018 Vertex42 LLC
This spreadsheet, including all worksheets and associated content is a
copyrighted work under the United States and other copyright laws.
Do not submit copies or modifications of this template to any website or
online template gallery.
Please review the following license agreement to learn how you may or may
not use this template. Thank you.
License Agreement
https://www.vertex42.com/licensing/EULA_personaluse.html
Do not delete this worksheet
