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This video tutorial will show you how to make a fixed rate loan or mortgage calculator in excel. It is actually quite easy to do and after watching this step-by-step example and walk-through, you will be able to make your own also. This tutorial uses the PMT() function to calculate the required payments and it is also explained in the tutorial.
To follow along with the spreadsheet seen in the tutorial or to get some free excel macros or tips & tricks, go to the website:
http://www.TeachMsOffice.com
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Basic Finance: A 30 year loan of 00 is given at 8%. Verify that the monthly payment is .34. We calculate the payment by using two separate cash streams, one for the principal and one for the payments. Then we apply a geometric sum to the payments.
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