Car Payment Calculator Using Excel

[austin316]

Ok, could someone point me in the direction on how to set up Excel so I can state the amount of payments for my car loan, the interest rate, and the amount being financed and be shown how much of each payment goes towards the interest and how much towards the principal?

I know how to set it up using the PMT financial function to see how much in total I will be paying towards interest, but not a breakdown of each month.

Thanks in advance.

 

[nwfsnake]

PPMT give the principal portion of the payment. Subtract from total payment to get interest amount? IPMT does the same thing for the interest portion.

 

[austin316]

I guess what I'm asking is a simple interest amortization scale.

 

[iversonyin]

use PV annuity formula

 

[austin316]

thanks for the help. works great.

 

[nwfsnake]

Maybe ISPMT?