Need a quick calculation without opening a new spreadsheet tab? Our mortgage calculator google sheets alternative provides the same powerful financial logic as the PMT function, allowing you to estimate payments instantly.
mortgage calculator google sheets
mortgage calculator google sheets Formula
This tool replicates the =PMT() function used in Google Sheets. Understanding the syntax allows you to build your own spreadsheets for more complex tracking.
=PMT(rate/12, number_of_payments, -present_value)
Example:
=PMT(0.065/12, 360, -300000)
Variables
- rate: The annual interest rate. In Sheets, you must divide by 12 for monthly payments.
- nper: Total number of payments (Years * 12).
- pv: Present value (Loan Amount). Enter as a negative number in Sheets to get a positive result output (or vice versa).
Related Calculators
- Amortization Schedule
- Financial Mortgage Calculator
- 30 Years Mortgage Calculator
- Mortgage Payoff Calculator
What is Mortgage Calculator Google Sheets?
The term mortgage calculator google sheets refers to using spreadsheet software to model loan repayments. It offers flexibility for users who want to see how extra payments affect their loan over time or who want to compare multiple loan offers side-by-side in a grid.
However, setting up the formulas correctly can be tricky. Our tool provides the exact same math in a user-friendly interface, eliminating the possibility of formula errors.
How to Calculate Mortgage Calculator Google Sheets (Example)
- Open Sheet: Start a new blank Google Sheet.
- Input Data: Type your rate (e.g., 6.5%) in cell A1, years (30) in B1, and loan ($300,000) in C1.
- Write Formula: In cell D1, type
=PMT(A1/12, B1*12, -C1). - Result: Cell D1 will display your monthly principal and interest payment.
Frequently Asked Questions (FAQ)
Financial functions treat payments as cash outflows (negative) and loans received as inflows (positive). To make the payment positive, put a minus sign before the loan amount (PV).
Yes, but it requires building a full amortization table (row by row) rather than a single PMT function. Use our Extra Payment Calculator for this.
=IPMT() calculates the interest portion of a specific payment period, while =PPMT() calculates the principal portion. Both use similar arguments to PMT.
Yes. It uses standard IEEE 754 floating-point arithmetic and the exact same financial formulas used by spreadsheet software.