Excel how long to pay off loan

Yes, exactly, use the FV argument, but make sure to list the FV as a negative value. I expected to get Am I misunderstanding how these functions should work? You raise a great question, Tom. I looked back and I don't see to have the source spreadsheet that I used to put together the calculations.

I can confirm that based on a loan of 3. Now it's possible that the NPER function isn't returning exactly 36, but instead returning Feel free to upload an example of your spreadsheet via the Upload a Project File at www. David, how would you add say an additional amount using a date countdown?

Example: I have an excel file for all of my debt and once I pay one debt off I stack that payment down onto the next one. You can also estimate the equity in your home after a specified number of years. If you are looking for a mortgage payment calculator that includes taxes , insurance , and other home ownership expenses, try our Home Expense Calculator. Use our new online calculator below to do some quick calculations. The online calculator requires your browser to support Javscript.

If it doesn't work for you or if you want something you can customize, download the spreadsheet or use the Google Sheets version below. License : Personal Use not for distribution or resale.

Below are explanations of 4 ways to use this template as well as short descriptions describing the terms used in the mortgage payment calculator. This simple mortgage calculator was designed for making side-by-side comparisons of different monthly mortgage payments, not including closing costs, mortgage insurance, or property taxes. Compare the monthly payment for different terms, rates, and loan amounts to figure out what you might be able to afford.

You should also consider how much interest you'll end up paying in the long run. Generally, for longer terms, your payment may be lower, but the total interest may be a lot more. You also might want to try the Home Expense Calculator to take into account some of the other expenses associated with home ownership. The calculator is set up to compare 5 different mortgages, but you can easily expand this by inserting more columns.

Just copy and paste one of the existing columns. Making extra payments on the principal or "prepayments" can help you pay off your mortgage early and save money by not paying as much interest. This calculator lets you evaluate the effect of making an extra payment each month. The annual interest rate for saving is 1. The PV function will calculate how much of a starting deposit will yield a future value.

Find out how long it will take to pay off a personal loan. In this formula the result of the PV function is the loan amount, which is then subtracted from the purchase price to get the down payment. The result of the PV function will be subtracted from the purchase price. PMT function. NPER function. PV function. FV function. Need more help? Calculate payment for a loan. You can use the PMT function to get the payment when you have the other 3 components.

For this Related functions. The Excel NPER function is a financial function that returns the number of periods for a loan or investment. You can use the NPER function to get the number of payment periods for a loan, given the amount, the interest rate, and periodic payment Excel Formula Training Formulas are the key to getting things done in Excel. Email HP. Excel video training Quick, clean, and to the point.