Launch Excel. Create a loan table with Loan Amount, Interest Rate, Term in months, and Monthly Payment. Use the PMT function to calculate the Monthly Payment Now, we will use Goal Seek.

Excel can quickly calculate amortization. Microsoft Excel is a widely used spreadsheet program that can use formulas to compute and display values.

This Technology Workshop illustrates how to leverage a number of functions to perform calculations in Excel involving the time value of money.

Last month, we used Goal Seek to determine the most reasonable mortgage payment within a specific budget. This month, we continue with the mortgage example using Scenario Manager. We’ll generate ...