Loan Calculator Excel Template Three Common Types Part 2
Here is a continuation of our previous about the three common types of loan calculator excel template. A loan calculator excel template uses the compound interest formula to function properly and give us the approximate answers to our loan calculations. It is capable of creating a schedule in a form of table to help us for in our loan and daily expenditure management. There are certain inputs that we need to type in the loan calculator excel template for it to be able to give us answers and schedules. Essential inputs are mostly made up of the interest rate, the cash amount of your loan, and the time period of your loan. Three essential inputs for three loan templates and youre good to go and enroll in a loan.
Now That We Know the Three Common Types of Loan Calculator Excel Template, Let Us Discuss About the Other Types Of It.
The first on the other loan calculator excel template is the Flexible Rate Old-style Loan Calculator.
This type of loan calculator excel template is mainly for studying the old-style flexible rate of loans. Some of the examples of this type of loans are the vehicle loans and mortgages. It has the capacity of over a thousand compensation phases. With this type of loan calculator excel template, you will be able to regulate its compensation occurrence to your preference. It also has an added feature of adding up an additional payment for each compensation phase. The rate of interest can also be altered in every compensation phase as well to help you get the most approximate answer to your monthly payments.
The last on the other loan calculator excel template is the Flexible Rate Loan Calculator.
This type of loan calculator excel template is mainly for studying loans that have flexible interest rates. Usually these types of loans require a big lump-sum payment at the end of the given loan payoff time. It can also save up to a thousand compensation phases. There are also features in the loan template that can be altered to suit your preference. Such features of the loan calculator excel template are the repayment origin, the occurrence of the payments, and the rate of interest. You can also add additional payments for each payment phase. The rate of interest can also be altered in every compensation phase as well to help you get the most approximate answer to your monthly payments.