This video tutorial shows you how to create a model in excel which will compute loan and or mortgage payments on a loan or mortgage. This model allows you to input the rate of the loan as well as the amount and number of years for the loan and will then compute the payments you will make on the loan each month.
This will also show you how to calculate the amount of your mothly payment that goes to paying for interest and how much actually goes towards paying of the principal of the loan. This model is for a standard and simple fixed rate loan and, as is, does not include provisions for adjustable rates or anything else.
The main purpose of this tutorial is to give you an introduction into how to build this type of payment calculator. Additionally, the video shows you how to make the model, but you can also just download the spreadsheet and use that if you want.
Topics Covered
 Loan/Mortgage Payment Calculator
Calculate How much of a Payment goes to Paying for Interest and How much goes to Paying Off Principal
Difficulty: Intermediate
Video: Yes
Spreadsheet: Yes
Download
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