EMI Calculator in Excel | Easy Monthly Installment Calculator


Tips:
  1. Create data as mentioned in the excel sheet.
  2. To get EMI, you have to use the PMT formula in excel.
  3. To get Total Amount Paying to Bank, you have to use the formula =PMT*NPer
  4. To get Total Interest Paying to Bank, you have to use the formula =Total Amount Paying to Bank-Amount of Loan
  5. Now create another table as given.
  6. EMI must be the PMT amount for all the cells (for 12 months). Use the same amount for the remaining cells.
  7. To get PRINCIPLE AMOUNT ON THAT MONTH, you have to subtract EMI amount with INTEREST PAID ON THAT MONTH & drag the same formula for remaining cell
  8. To get INTEREST PAID ON THAT MONTH, you have to use the formula =ROI/12*AMOUNT OF LOAN and drag the same formula for remaining cells.
  9. Now the challenge is to get the remaining months AMOUNT OF LOAN. To get the same, you have to subtract AMOUNT OF LOAN with PRINCIPLE AMOUNT ON THAT MONTH from the previous month.
  10. Now drag the LOAN AMOUNT cell till the end.


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