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Car Loan EMI Calculation Guide

The document discusses using a data table in Excel to calculate the monthly loan repayment amount (EMI), total amount paid, and interest paid for a two lakh rupee loan over 25 months at varying interest rates between 10-15%. It provides the formulas needed to calculate the EMI, total amount, and interest for each interest rate in the table.

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Abhimanyu Verma
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112 views2 pages

Car Loan EMI Calculation Guide

The document discusses using a data table in Excel to calculate the monthly loan repayment amount (EMI), total amount paid, and interest paid for a two lakh rupee loan over 25 months at varying interest rates between 10-15%. It provides the formulas needed to calculate the EMI, total amount, and interest for each interest rate in the table.

Uploaded by

Abhimanyu Verma
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Excel What-if Analysis Data Table

Let us consider that you are borrowing a car loan from a bank. Your loan amount is two lakh
rupees, and the Rate of Interest is 10% with 25 months of tenure.

Now, you wish to calculate and see the different EMI rates for different rates of interest.

So, let us calculate the following.

 EMI
 Total Amount
 Interest Amount
To calculate the above-mentioned fields, we require the following respective formulas as shown
below.

EMI

Total Amount

Interest Amount

The final table will appear as follows.


The main problem statement is to find out the EMI for different rates of interest.

Now, create a new column with all the rates of interest you wish to look for. Followed by that,
write the cell address of the EMI in your table in the next column. In this case, it is B7. The table
should appear something like below.

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