Is there a formula to calculate loan payments?

04/21/21
Answered - Pending Review

I need to calculate the periodic payment of a amortizing loan with level payments and a constant rate of interest. Is there a formula that I can use in Smartsheet to make this calculation?

Answers

  • Hi Jimmy,

    There is no specific formula for loan payments. However, you can create a simple sheet with basic formulas. Given below link to a published sheet with some basic calculations. The numbers will vary based on the initial loan amount, percentage of interest, and the monthly payment amount.

    https://app.smartsheet.com/b/publish?EQBCT=62be43e03e7e4981a4a0ff90721d45c6

    Thanks,

    Aravind

    Associate Director

    Copernicus Consulting Pte. Ltd.

    P: +65 9230 5657 | E: [email protected]

    Feel free to reach out for licenses, services, and training on Smartsheet

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