In Excel,to calculate the cost of any loan,three pieces of information are needed.

Question

Quizplus · Accepted Answer

To calculate the cost of a loan in Excel, three pieces of information are typically needed: the principal amount borrowed, the interest rate charged on the loan, and the length of time the loan will be outstanding (usually measured in years or months). With these inputs, Excel can calculate the total interest paid on the loan, as well as the total cost of the loan over its term.

In Excel,to Calculate the Cost of Any Loan,three Pieces of Information