One of the literally cool parts aspects of Microsoft Excel is the functions Microsoft has created for you to use. This means that rather than have to develop a function from scratch you can use pre-built ones to do a plethora of tasks like building your own Mortgage Calculator. The Mortgage Calculator or Pmt function is just one of many Financial Functions available.
Okay, so how to build a mortgage calculator...
Calculate Mortgage Interest
The first thing we have to do is to start by setting up a few basic headings. So lets begin by beginning a new workbook and clicking in the first cell A1. Enter into cell address A1 the heading - Monthly Loan Repayments. Next off, enter into cell address A2 - estimate of Loan, cell address A3 - Interest Rate, cell address A4 - length of Loan and then in A6 - Monthly Repayment.
