Formula to calculate loan payment in Excel?

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How can I calculate monthly loan payment in Microsoft Excel?

I want to create a spreadsheet so I can just enter the values and it automatically calculates the monthly loan payment. Is there any formula to do this? or do I need to create a macro?

I have the following fields:
Purchase price
Down payment
Term (months or years)
Interest Rate

Alex's picture
Mon, 09/24/2012 - 14:05

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