Example – Calculating a Car Loan EMI Let’s see a practical example of how to apply the manual method to find the EMI for a car loan. Suppose a person took a $50000 car loan at a 5% rate for 3 years. The monthly payment / EMI amount can be calculated by using the following form...
When you drag the handle to other cells, Excel will show different results for each cell. Copy a formula by dragging the fill handle Follow these steps: Select the cell that has the formula you want to fill into adjacent cells. Rest your cursor in the lowe...
So, this formula works by calculating the remainder using the MOD function. Example #7 Specify a number in every Nth cell. Suppose we are preparing a list of expenses for every month as per below data: The insurance premium is paid in every 3 months gap. Here we will use the MOD funct...
PV Function also expands as Present Value, which is quite a useful function available under a financial category in excel; it is used for finding out the present value at any point of the time period of borrowed or invested amount and considering the rate of interest monthly. This is a qui...
Present Value Factor Formula in Excel (With Excel Template) In this example, we have tried to calculate the present value of the Home Loan EMI using the PV factor formula. As illustrated b, we have assumed an annual interest rate of 10% and the monthly EMI Installment for 30 years. The...