In this tutorial I demonstrate how to create a loan calculator. I use Excel 2011 for Mac but it also works just the same in all Windows versions. I use a number of functions including:
– TODAY – to calculate today’s date
– EOMONTH – to calculate the last day of a month and the first day of the next month
– EDATE – to calculate the last repayment date
– PMT – to calculate the monthly repayment amount
I also demonstrate how to combine several text values into a single sentence, making sure that currency amounts and dates are formatted correctly within the text.