How To Calculate Loan Payments Using The PMT Function In Excel

This video tutorial explains how to calculate loan payments using the PMT function in excel. It explains how to calculate the monthly payment given the principal and annual interest rate. It also determines the total cost of the loan with the total interest paid over the lifetime of the loan.
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[@TheOrganicChemistryTutor]

Final Exams and Video Playlists: www.video-tutor.net/

[@ube-23s]

Can you calculate it without a calculator/formula.?

[@jgideon27]

Man, you're great. I love how you take an excel lesson and turn it into life lessons - get that interest down is right!

[@paulmccoy2334]

Really help me out alot to understand how it's calculated

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[@apathetic5913]

Thank you for taking your time to teach us. I understand this way better than my teacher explained. This will be very beneficial for my upcoming math assessment! 👍

[@kiawilliams5541]

Straight to the point! You made it so easy!! THANK YOU!!

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This Channel literally has EVERYTHING! I love this, helped me in my Excel class!

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Thank you! This helped with my final project...

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[@anthonyrivera5490]

I'm so glad I saw this video. I wanted to know how to get rid of the negative monthly payment, and you showed me how. Thank you very much, I really appreciate it!

[@Tendertroll1]

Thanks so much, this helps me a lot before I head into the dealership !

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[@LegendaryBoneThugs]

saved me HUNDREDS of dollars on new HVAC system and Car Loan. Thanks, really easy to follow along!!

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Simple and to the point, nice vid

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Thanks a lot, you help me to fix a little issue i had on my excel sheet

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Very clearly explained. Thank you

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Thank you for the video

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Thank you!

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[@Elly-gu5wn]

I thought this is just a tutorial about excel and calculation. A bonus words of wisdom in the end. Which i always hear from my any person who doesn’t want to use debt. I’ll rather used debt to produce more income out of it.

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Thank you this was very helpful

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Very helpful.

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[@christyhart1777]

This is great, how would i add the rounding function to 2 places in this formula

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Really helped me

[@jaymuller6004]

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[@TheOrganicChemistryTutor]

Thanks!

[@jaymuller6004]

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Thank you so much.

[@seanlyons-nt2kz]

Thanks so much

[@sevegarza4768]

This is a fantastic walk-through. There is one thing I would like to say about the mortgage calculation part around min. 7:20 in the video you mention negotiating an interest rate. In 2022 there is no real way to negotiate your interest rate if you use a conventional loan from a bank or private lender. All of their loan rates are determined by your credit score, income, and debt-to-income ratio.. So rather than try to renegotiate something that isn't negotiable, you could work on improving your debt to income ratio, put more cash down, earn more income, or you can pay down points at closing to reduce your interest rate. Something else to note is that most home loans do not have a penalty for paying them off early.

[@keithashford1219]

I agree with this to an extent. While you may not be able to negotiate with one lender, you are able to shop around to see who will give the better deal.

[@kirkwhitfield5257]

brilliant video learnt how much my mortgage will cost

[@talyakarabulut1634]

Really helpful :)

[@maryoitr600]

nice that help ful content

[@3gkevh53]

Thanks man

[@hubbabt]

Annual rate you mentioned here is it the stated rate or it is the effective interest rate?

[@visswaayful]

🙏 thank you

[@Barbie-iy8oq]

Thanks allot

[@CristhianTR]

Good video man! What would happen if the interest in the first 03 years would be 0% and 3.15% for the following 07 years? how could I calculate that?

[@danielm.9552]

tysmm

[@jukieramus]

Does the pmt formula use straight line or reducing balance method ?

[@soulvqant]

can we still get monthly payment without having loan amount but we have the future value? or do we need to use other financial formula?

[@Decoreum]

If someone was sending it to you would you sign on this? If so where would you sign

[@shobhanapatel4113]

Thanks for this video But one thing I do not under stand-in a personal loan they take out monthly payment 197.00 then end of the month then 45.00 as withdrawal

[@whitetailfarms05]

would you be willing to help build a payment amortization. I have to have insurance and taxes along with extra payments and actual payment made columns.

[@JahidHasan-rt4mz]

i wish i could donate something for this channel..

[@eneoji2580]

Is this example computation apply annuity??

[@ronnak8427]

Is there a way of making a Mortgage calculator with prepayments?

[@kawaiidarkbutterfly5570]

I was staring at my computer for a few hours trying to figure out a formula to use that works

[@jjsmallpiece9234]

If the interest rate is variable, you need to change the number of repayments, if yoy have made some payments at a different interest rate already

[@sreytouchkong8838]

Thank you, if we borrow money from bank the amount 3000$ have 3 years the interest 1.45% for month how we calcuate this ? Thank you

[@itsreallyalvarez]

Can you add a balloon?

[@Puja_vlogger]

Which excel you are using

[@purabkhatiwora6504]

How to calculate the amount of time of EMI when we know the principal amount, rate of interest and emi amount?

[@mohiuddinbabor8744]

If the payment is at the end of the year, what will happen?

[@LuisRodriguez-sv3gu]

For total interest I had to put it like this =-cell-cell if not it would add both cells instead of subtracting. Can someone explain why this is happing?

[@MuhammadFarrukh-yr7uk]

What if there is a charge off or bad debt in period 7? or if the loan book has an annualised bad debt of 1% per annum.What's the formula then ?

[@ambrose_8]

Can't seem to find a formula explanation for interest paid after X years, since we know we pay more interest in the first years of a loan.

[@cameronspalding9792]

Is this based on compound interest

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[@saraguerrero2432]

how much of each payment is interest?

[@zizis9839]

what if you have the term (20 yrs), the interest rate (7%) and the monthly pymt ($3488). How do you calculate the loam amount?

[@LegendaryBoneThugs]

Easy, your LOAN AMOUNT is "about" $450,000. Monthly payments of $3,488.85. Total Cost will be $837,322.85. Total Interest Paid $387,322.85 Hope this helps. You're paying almost TWICE what the house is worth. ouch.

[@Puja_vlogger]

Monthly mortgage payment is error It's showing #value !

[@jjsmallpiece9234]

Instant gratification is best, when you have a new car,

[@chanelzero0831]

WHY IS THERE A NEGATIVE IN C8, I mean how can I get a correct or actual value without the negative its messing up my whole sheet

[@clearcontentment3695]

The best idea is to pay it in install Ments of one dollar over the next two millenniums

[@TheBioethicist]

When I do the exact same formula it gives me a payment of $8,333. What's going wrong?

[@cavey93]

By dividing the interest rate by 12 you are not calculating the proper compound interest per month. Results will not be too different though.

[@presncubez]

Very good observation the interest, the monthly interest is not properly calculated

[@kinnarikateja5064]

Total cost is principal + total interest

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[@billp7151]

NY ACCENT? OR JERSEY ACCENT?

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[@osthelovevibes8857]

Number of payment how calculated 120 answer? ????

[@srai6433]

(No. of years)10 * 12 months in a year = 120 months

[@jjsmallpiece9234]

no point paying increased payments if you can't then afford to buy short term needs like food, power bills etc

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