How do you find the time period of a loan amortization?

admin

It’s relatively easy to produce a loan amortization schedule if you know what the monthly payment on the loan is. Starting in month one, take the total amount of the loan and multiply it by the interest rate on the loan. Then for a loan with monthly repayments, divide the result by 12 to get your monthly interest.

>> Click to read more <<

Accordingly, how do I calculate how many months it will take to pay off a loan in Excel?

=PMT(17%/12,2*12,5400)

  1. The rate argument is the interest rate per period for the loan. For example, in this formula the 17% annual interest rate is divided by 12, the number of months in a year.
  2. The NPER argument of 2*12 is the total number of payment periods for the loan.
  3. The PV or present value argument is 5400.
In respect to this, how do I calculate how many months left on my mortgage? The formula goes like this: B = (PMT/R) x (1 – (1/(1+R)^N) In the formula, “B” is the principal balance, “PMT” is the monthly payment for principal and interest and “N” is the number of months remaining.

Herein, how do I calculate remaining loans in Excel?

Here’s how:

  1. In Excel, create the labels needed for the structure of the worksheet. …
  2. Type =NPER( into the cell where the function should be placed. …
  3. Click or type the cell that contains the interest rate, and then type a comma. …
  4. Click or type the cell that contains the payment amount, and then type a comma.

How do I find the remaining balance on my mortgage?

You can easily see if this exists by simply calling the county clerk’s office or by visiting their website. Those that have a page like this will list the property information, date of default and the balances owed on each of the mortgages on the property.

5 Related Question Answers Found

How do you calculate amortization?

Amortization Calculation

You’ll need to divide your annual interest rate by 12. For example, if your annual interest rate is 3%, then your monthly interest rate will be 0.0025% (0.03 annual interest rate ÷ 12 months). You’ll also multiply the number of years in your loan term by 12.

How do you calculate monthly amortization in the Philippines?

How to Calculate Monthly Payment on a Loan?

  1. a: Loan amount (PHP 100,000)
  2. r: Annual interest rate divided by 12 monthly payments per year (0.10 ÷ 12 = 0.0083)
  3. n: Total number of monthly payments (24)

How do you calculate remaining term on a loan?

The remaining term refers to the number of months still outstanding on a loan. To calculate the remaining term, one simply deducts the number of payments made from the original term. The original term refers to the number of payments required to pay off the loan.

How do you solve amortization problems?

What is the outstanding balance of a loan?

An outstanding balance is the total amount still owed on a loan.

Leave a Comment

Review for Loans

We are willing to show you that there is a number of products and services with their advantages and drawbacks. We want to teach you to compare the best offers you can really benefit from.

Useful Links

Our Policies

Disclaimer: This platform is a free online resource aimed at assisting people with making smart financial decisions and choosing the most appropriate solutions tailored to their finance-related needs. Review for Loans provides professional research, comparison, reviews and unbiased opinions on multiple financial topics. We strive to keep the information on the website up to date and accurate. Although the information we share is based on thorough research, it doesn’t constitute solely professional or legal advice, thus shouldn’t be treated as such.

To keep the website free and continue providing valuable content, we get compensation from the companies listed and/or featured on the site. The compensation rate may impact the way the offers appear on the site. Review for Loans doesn’t include all available offers and/or companies.

The authors’ and/or editorial opinions are solely their own and are not provided, endorsed, reviewed and/or approved by the offer issuers and/or companies we get compensation from. Our content may differ from the information you get from the financial institutions issuing offers. We present the products and services without warranties. When you choose to click on the offer, you agree to be directed to the issuer's site where you can and should review the terms of use.

© 2022 Review for Loans