What is the formula to calculate interest in Excel?

A more efficient way of calculating compound interest in Excel is applying the general interest formula: **FV = PV(1+r)n**, where FV is future value, PV is present value, r is the interest rate per period, and n is the number of compounding periods.

How do you calculate principal and monthly interest?

To find the total amount of interest you'll pay during your mortgage, **multiply your monthly payment amount by the total number of monthly payments you expect to make**. This will give you the total amount of principal and interest that you'll pay over the life of the loan, designated as "C" below: C = N * M.

What is the meaning of 7% interest?

This is the interest rate offered by the State Bank of India, the country's largest lender, on fixed deposit (FD) in the 3- to 10-year maturity basket, effective from 1 September 2016. This means for **every Rs100 that you deposit with** the bank, you will earn Rs7 annually, pre-tax, if applicable.

## Related Question how to calculate principal and interest in excel

### How do you calculate principal and interest in Excel with EMI?

To get the principal component in a particular month type: =PPMT(I,x,n,-p)
To get the interest component in a particular month: =IPMT(I,x,n,-p)
Also, you can calculate your EMI by typing: =PMT (I,n,-p)