Formula to calculate dumb installment in Excel

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Martí Micolau
@martimicolau
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Do you want to buy a house and want to understand if the money you have available covers the expenses you will have to face? Buying a house requires a lot of money and before going to a bank I want to give you an idea of ​​how much you will have to spend by explaining the formula to calculate mortgage payment in Excel.

If you don't know the formula for calculate mortgage payment in excel it is very simple. The Microsoft application provides a specific function whose syntax is: = INSTALLMENT (interest rate; total periods; value of the loan; possible advance; prepayments 0/1).



To use this formula you can refer to this example. Let's assume that the mortgage you want to take is 200.000 euros, 20 years in duration and with a rate of 3,6% per annum.

The first argument of the formula is the interest rate: it must be provided on a monthly basis, so you must calculate the 3,6% /12.

The total periods are the duration, so 12 installments per year for 20 years equals 240.

The value of the loan is obviously the amount that the bank will finance you. The other two fields are optional, depending on whether you give an advance or not or if you pay advance installments or not.

So the formula to enter will be =RATA(0,3%;240;200000;0;0). By doing so you will get the amount of the single installment.


The formula will return a negative value, as it represents negative cash flow. If I had entered ., assuming you are the bank, the sign would be positive.


In conclusion with a simple formula called RATA, you have managed to calculate the dumb installment in Excel.

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