Debt Reduction Calculator Template


Exceltemplates.org – No one wants to be involved in a bad credit history. Bad debt will not only cause chaotic problems within the current time but also similar problem in the future, especially when you are going to get loans. In order to get rid of bad debt, you have to know exactly how much you should have for the debt payback; or how long you will need to make the payment to cover the whole amount of your debt. Debt Reduction Calculator is one of today’s tools, which offers you assistance in taking care of your debt.

Debt Reduction Calculator Excel Template

Getting to Know about Debt Repayment Calculator with Excel Template

Debt Reduction Calculator takes form of tables with formulas, in which there are several important data related to the loan or debt you have. Whether you are going to calculate the credit card debt, personal loan, home, or car loan; you have to provide data related to them before using Debt Reduction Calculator.

Four things to be put on this calculator are the debt balance, the interest rate, the fixed amount of payment (if any), and the period of payment. Balance is the amount of money you owe while interest rate is the percentage of interest you get from the lender.

Using Excel Template of Debt Reduction Calculator

You can use Debt Reduction Calculator two calculate two things.

First, to know the period through which you should make payments. The needed information includes fixed payment (monthly or other period), the balance, and interest rate. Enter each of them into the formula ToP= (balance+interest)/fixed amount of payment.

Check this template >   Extra Payment Calculator

Secondly, you can also calculate the amount of payment, for example, in every month. The data to enter are payment period (how many times you should make the payment). The formula should be AoP= (balance+interest)/period of payment.

You can enter the formula in Ms Excel worksheet so that the system will automatically calculate it for you.

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John

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