This series covers how to create a mortgage repayment calculator in Excel. In Part 1, we discuss how to calculate mortgage outputs (monthly mortgage payment, total cost and total interest) from inputs (mortgage amount, interest rate and term) using the PMT function among others. We then create an amortisation table to show how the mortgage balance, interest and principal change over time. Here, we use the TODAY, EDATE, IPMT and PPMT functions. The limitation however is that the amortisation table does not adjust to changes in the mortgage term. In part 2 of this series we cover how to overcome this using VBA.
Part 2 of Mortgage Repayment Calculator Series:
https://youtu.be/fUZU5VWNMDk
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[email protected]Overview: (0:00)
Inputs & Outputs: (1:04)
Amortisation Table: (3:13)
Evaluation: (5:37)