Free finance template
Loan payments
The monthly payment (PMT), the total interest and the balance after two years.
It opens with this template loaded and runs in your browser. You don't need an account to use it; a free account saves your work and exports it.
The job it does
When you compare financing offers for equipment, vehicles or a fit-out. It comes with its own checks, so after you change it you can see at a glance that it still does the job.
What's inside
This is the template exactly as the Finance Lab opens it, read-only. Open it to run it, change it and export it.
- 1 sheet
- 5 formulas
- Exports to Excel, CSV and PDF
PMT(rate per period, number of periods, amount) gives the payment per period, negative because you pay it. A monthly loan uses the annual rate ÷ 12 and years × 12. FV gives the balance left after some payments.
- No formula errors anywhere
- B8 is a formula, not a typed number
- B10 is a formula, not a typed number
| Number | Value |
|---|---|
| Monthly payment | $2,977.40 |
| Total interest | $27,715 |
- Interest rate: 11% (from 0.03 to 0.2)
- Years: 4 (from 1 to 7)
- Down payment: 20% (from 0 to 0.5)
| Row | A | B |
|---|---|---|
| 1 | Delivery vans on a loan | |
| 2 | Price of the vans | $144,000 |
| 3 | Down payment | 20% |
| 4 | Annual interest rate | 11% |
| 5 | Years | 4 |
| 7 | Amount borrowed | $115,200 (formula =B2*(1-B3)) |
| 8 | Monthly payment | $2,977.40 (formula =-PMT(B4/12,B5*12,B7)) |
| 9 | Total paid | $142,915 (formula =B8*B5*12) |
| 10 | Total interest | $27,715 (formula =B9-B7) |
| 11 | Balance after 2 years | $63,882 (formula =-FV(B4/12,24,-B8,B7)) |
The lesson behind it
Learn why it works, with a podcast and a quiz for each lesson.
More finance templates
NPV and IRR business case
An investment and its yearly savings: NPV, IRR, a decision and the payback year.
Cloud cost model
A price list and a monthly bill on two sheets, with reserved discounts, storage tiers and a CDN, and the cost per order.
Pricing calculator
A price from cost and target margin, rounded to .99, with demand that falls as the price rises.