Calculate mortgage payment in excel4/11/2024 ![]() When you paste it into Excel, it just formatted a little bit differently but the result is the same. So, this is going to be a little bit different, but the result should be the same. ![]() In this example, your monthly payment is $1,073.64. So, when you paste this formula into Excel, it expresses it as a negative number because this is what you’re paying out. You can also reference another cell to bring that value in. You can just express this as a fraction. So, for RATE you would input 0.05/12 and the equation would look like =PMT(0.05/12,360,200000). Instead of calculating all the values separately. However, there’s actually an easier way to do it. So, in this example it would be 5% interest divided by 12 giving us 0.0041666. RATE equals 0.00416666 because you need to take interest rate and divide it by 12 to account for the monthly basis for which were calculating. ![]()
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