Formula to calculate loan amount

**MRoads** · 08-25-2012, 07:43 PM

Hey Guys t , I need your help:
One of my credit cards is offering the following:
A loan for $10,000. The estimated rate is 7.99 % for the next 72 months. The loan payments will be $175 for 72 months. I have no clue as to what formulas-in excel- should use to calculate how much will I end up paying. Your help is greatly appreciated

**jeffreybrown** · 08-25-2012, 08:21 PM

Quite honestly I do not know if one formula to do this (hopefully somebody else knows), but I would take a look here for an amortization schedule.

http://www.vertex42.com/ExcelArticle...lculation.html