EMI Calculator in Excel | Financial Modeling in Excel - Step-by-Step Guide

EMI Calculator in Excel | Financial Modeling in Excel - Step-by-Step Guide
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Lecture By: Annu Rana - #skillsphere
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Welcome to our step-by-step guide on creating a comprehensive Loan/Mortgage EMI Calculator using Excel! In this video, we'll dive into financial modeling techniques that utilize powerful Excel functions such as PMT, SUM, and IF to help you build an effective and user-friendly calculator.

What You'll Learn:
📊 Introduction to EMI Calculation:
Understand the basics of Equated Monthly Installment (EMI) and its significance in loans and mortgages.

🛠️ Excel Functions Overview:
PMT Function: Calculate the monthly payment for a loan based on constant payments and a constant interest rate.
SUM Function: Aggregate values to get the total amount of payments or interest paid over time.
IF Function: Implement conditional logic to handle different scenarios in your financial model.

📈 Step-by-Step Financial Modeling:
Setting Up Your Excel Workbook:
Structuring your spreadsheet for clarity and ease of use.
Implementing the PMT Function:
Detailed walkthrough of the PMT formula to calculate EMI.
Using SUM for Total Payments:
Summing up monthly payments to get the total amount paid over the loan tenure.
Applying IF for Conditional Scenarios:
Handling different loan conditions and adjusting calculations dynamically.

📅 Practical Examples and Use Cases:
Real-world scenarios to illustrate how the EMI calculator can be used for different loan types and conditions.

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MS Excel: The most powerful spreadsheet software ever made, for everything from data analysis to visualization to personal data analysis etc.

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