Q&A for How to Create a Mortgage Calculator With Microsoft Excel

Include 2 columns, one for interest component and the other with principal component. Add a new column next to principal title "additional principal". Now subtract it from the original principal.

Use the same formulas mentioned in method 1 above; however, use Goal Seek to automatically calculate the loan amount.

Set up two spreadsheets, one containing your "base loan" with no extra payments, and the second containing the extra payments. The "sum of payments" will decrease as you add extra payments in the second sheet. Subtract this value from the "base loan" sum of payments to see how much you are saving by putting extra money into your loan.

The Fill option is usually located on the Home tab in Excel, in the "Editing" section. I'm unsure of what you're referring to with "formulas at the top of screenshots" or a "reference chart" as neither of those are mentioned in this article.

Use this simple interest calculator to find A, the Final Investment Value, using the simple interest formula: A = P(1 + rt) where P is the Principal amount of money to be invested at an Interest Rate R% per period for t Number of Time Periods.

For an Adjustable Mortgage you are not able to predict the exact future percentage. Add an interest adjustment column for each payment. For the first five years the adjustment is 0. For the 6th year make the adjustment = to the maximum annual increase. For the 7th year make the adjustment = to the maximum annual increase When you reach the maximum interest allowed for your loan, continue to use that. With this method you predict the worst case scenario for an ARM.