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• InterestRate – C2 (annual interest rate)
• LoanTerm – C3 (loan title in many years)
• PaymentsPerYear – C4 (level of costs per year)
• LoanAmount – C5 (full amount borrowed)
• ExtraPayment – C6 (a lot more payment for each period)

dos. Assess a booked fee

Aside from the input structure, an added predefined cell is necessary for our next calculations – the fresh planned percentage number, i.e. the total amount become repaid into the a loan if the no additional repayments are built. That it count is actually determined toward following formula:

Delight hear this that we set a minus sign up until the PMT mode to obtain the influence since the an optimistic count. To prevent mistakes but if some of the enter in tissue was empty, i enclose the fresh PMT algorithm inside IFERROR function. Read more