Monthly Compound Interest Formula P 1 R 1212t P. So you will earn a total of 21 in interest rather than 20 as in the case of simple interest. Lets see how it can be done.
Just enter the loan amount interest rate loan duration and start date into the Excel loan calculator and it will calculate each monthly principal and interest cost through the final payment.
The general formula for simple interest is. Compound Interest in Excel Formula. The general formula for simple interest is. In the Cell F6 please type below formula and press the Enter key.