We all know that the Excel application in the Microsoft Office suite for office workers has a lot of useful functions in life, such as the years of working in Excel , the calculation of the number of days in Excel . .. And one of the fields that Excel also supports very well is the banking sector.
At below Download.com.vn has summed up an Excel or 4 function used in the banking sector, including FV and PMT function in active use remaining depositors PPMT jaws and applications in operation Tho city Bank loan.
You can use the function below to calculate the interest rate of the bank, calculate the interest rate for a bank loan, or the interest rate for a bank loan, how to calculate the interest rate for a bank deposit. If you are not eligible for Microsoft Office software , you can use the free WPS Office software .
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The FV function is used to calculate the total amount you will receive when depositing a certain amount (periodically) to a bank with a certain interest rate.
For example, in the picture, the amount you want to deposit is 500,000 VND (sent monthly) to Bank A, with an interest rate of 11.50% / year, total time is 60 months (5 years) .
So the total amount you will receive after 5 years will be calculated by the function FV (rate, nper, pmt, pv, type) as shown in the picture. Inside:
You can see that the 5-year deposit period changes to 60 months so the value of the interest rate parameter is also divided by 12 so that the exact value can be obtained in 5 years. Note that you need to put a minus sign before the FV function to get a positive number result.
The PMT function has the opposite function of the FV function, used when you already know the amount received, the time of deposit and the percentage of bank interest, the total amount you have to deposit will be calculated by the PMT function .
For example, if you want to deposit money into bank B with an interest rate of 5.66% / year for a period of 5 years to earn a sum of VND 57,707,554.34, what is the total amount you need to deposit into that bank? .
Now you can use the PMT function with the same formula as the above FV function, where C2 is the interest rate / year, C4 is the time to deposit (5 years is equivalent to 60 months), C5 is the total the money you expect to receive
PPMT function is used to calculate the amount of principal that you have to pay monthly when you borrow money at a bank , of course you know in advance the loan interest, the amount of loan and the time of the loan.
For example, in the picture, you are in need of the amount of VND 35,000,000 and will borrow from Bank A with an interest rate of 4.55% with a 120-month (10-year) timeline. Now you will use PPMT to calculate the amount to be paid monthly to the bank as shown in the picture.
The IPMT function is used to calculate the amount of interest that you must pay monthly. You will use the IPMT function to calculate for the case of borrowing money at bank A as shown in the picture, the total amount payable to the bank includes the principal amount (using the PPMT function to calculate) and the amount of interest (using the function IPMT to calculate).
Specifically, the monthly interest amount is calculated by the following formula: = IPMT (B $ 2/12, A7, B $ 4, B $ 3)
After calculating all the months, plus all back to check the total amount of principal and interest payable after 120 months, specifically in the form, can be seen after 120 months you have fully paid 35,000,000 VND money capital, and the interest amounting to VND 8,629,431 is payable to the bank.
Above are some common functions of Excel used in banking, hopefully with the above formula for bank interest rates will help your work get done faster. You can refer to the article How to use different currency symbols in Excel for easier calculation
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