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In this article, I will show you how to schedule loan repayment in installments Excel.

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Schedule loan repayment in Excel

1. We will use the PMT function to calculate the monthly payment for a loan with an annual interest rate of 5%, a term of 2 years, and a present value (borrowed amount) of $20,000.Lesson 172: Schedule loan repayment in Excel

2. Use the PPMT function to calculate the principal part of the payment. The second parameter specifies the payment.

Lesson 172: Schedule loan repayment in Excel 10

3. Use the IPMT function to calculate the interest portion of the payment. The second parameter specifies the payment.

Lesson 172: Set up a loan repayment schedule in Excel 11

4. Update balance.

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5. Select the range A7:E7 (first payment) and drag it down one row. You will see the balance change.

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6. Select the range A8:E8 (second payment) and drag it down to row 30.

Lesson 172: Schedule loan repayment in Excel 14

It took 24 months to pay off this loan. In addition, you can also view many other excel articles here.

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