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How to calculate a monthly payment in excel
Launch microsoft excel and open a new workbook.
Save the workbook file with an appropriate and descriptive name.
This will help you find your work later on if you need to refer to it or make changes to the information.
Create labels in cells a1 down to a4 for the variables and result of your monthly payment calculation. Type " balance " in cell a1, " interest rate " in cell a2 and " periods " in cell a3.