Description
See what a "flat rate" loan really costs: monthly instalment, total interest, the equivalent reducing-balance rate (APR) and a month-by-month balance schedule.
- Automatic summary: Monthly instalment, Total interest (flat), Equivalent reducing rate (APR), Interest if the flat rate were a reducing rate
- Calculated for you: Opening balance, Instalment, Interest (reducing method), Principal repaid, Closing balance
- Built-in chart that updates as you type
- Example rows and a step-by-step "How to Use" sheet
Instant download (.xlsx). Works in Excel 2010+, Excel online, Google Sheets, Numbers and LibreOffice. Works with any currency.
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