Many people find themselves confused by the process of calculating a personal loan payment. For example, when paying on a loan, one of the largest items affecting your monthly payment is the interest rate.Ĭalculating monthly loan payments in Excel can be very tricky at first.
In order to calculate the most accurate monthly payment on a loan, you should know not only how to calculate interest but also what drivers may affect your monthly payment. This includes various factors such as interest, principle and any fees that are associated with the loan. A loan payment is a monthly you have to make each month.
