Let's invest money...
Originally published: 30/09/2020 07:20
Publication number: ELQ-50737-1
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Let's invest money...

This template is for to calculate the interest according to your specified time when you take money loan from bank.

Description
This template will help you to calculate the information about the interest and time you will pay when you withdraw money from the bank in the month and year according to the time you will specify.

You write down the amount of credit you want to receive in the Loan Investment table.

Then you should enter the interest rate applied by the bank, option either you pay interest at the beginning or end of each month, the loan period as a year, the number of payments per year and the date you will pay the first.

The table automatically calculates the monthly interest amount in the Install Amount line with the help of Excel PMT Function which you'll required to pay.

You can know the total interest amount you will pay in the Total Interest Paid line.

In the next table, the total number of payments is automatically and dynamically calculated with the Sequence function in accordance with the number of credit years you will show in the previous table.

In the first row of the date column, the payment date shown in the previous table is copied by reference. In the next rows of the date column, the first days of the next payment months are written with the EDate function.

Then, the total payment, interest and principal payments are written in order.

You may see interest payment amounts on monthly and yearly basis in next tables.

I have also written all the formulas with the help of Formulatext Function in the last column.

Good Luck!

This Best Practice includes
1 Excel File, 1 Cover Picture

Ilgar Zarbaliyev offers you this Best Practice for free!

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Further information

If you need money credit, then this is the best template to use.

If you intend to pay interest at the beginning of each month, so it is preferable.

Not preferable, of you intend to pay interest at the end of month

Reviews

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  • Gafur Zarbalizade(last updated: 26/10/2020 17:52)
    Good Template...
    Good template for Credit Analysis Purposes...
  • Cats Pvt(last updated: 20/10/2020 11:06)

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