So what this this auto payment calculator do better than the other calculators you can find littering the Internet? Well, you can change the compounding period of the loan. This tool also generates a payment schedule, giving the date of each payment (and the interest and principal paid of every payment, and the balance). Watch me use the spreadsheet in this video. and the total interest and principal paid at the end of the loan.Just enter the loan amount, interest rate, loan term, first payment date, payment frequency and loan compounding periodĪAfter you click a button, the spreadsheet calculates your The spreadsheet is easy to use and navigate required parameters are highlighted, and drop-down menus let you change the payment frequency and compounding period. You can also investigate how changing your loan conditions (such as the payment frequency or the term) affects the payment. It calculates your car loan payments and generates a payment schedule. Want to know how much that new car will cost? Just crack open Excel and load this spreadsheet.
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