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length of loan formula. The payment on a loan can also be calculated by dividing the original loan amount PV by the present value interest factor of an annuity based on the term and interest rate of the loan. The interest rate is 6 per annum or yearly.
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To calculate the number of payment periods for a loan given the loan amount the interest rate and a periodic payment amount you can use the NPER function. 20000 x05 x 5 5000 in interest You might encounter. For example a 30-year mortgage paid monthly will have a total of 360 payments 30 years x 12 months so you can enter 3012 360 or the corresponding cell in this case C412.
20000 x05 x 5 5000 in interest You might encounter.
3 Assume you borrow 100000 at 6 for 30 years to be repaid monthly. Your bank offers a loan at an annual interest rate of 6 and you are willing to pay 250 per month for 4 years 48 months. P V P M T i 1 1 1 i n Example. For example in this formula the 17 annual interest rate is divided by 12 the number of months in a year.
