Template · Finance
Fixed-rate loan comparison
Compare monthly payments and total interest across fixed-rate loan offers with different rates, terms, and upfront fees.
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XLSXCSVODSXMLNumbers| Fixed-rate loan comparison | |||||||
| Example data — replace the blue input cells with your own. | |||||||
| Compare monthly payments and total interest across fixed-rate loan offers with different rates, terms, and upfront fees. | |||||||
| Populated records | 3 | ||||||
| Lowest monthly payment (USD) | $359.65 | ||||||
| 60 record rows. Blue cells are inputs; dark cells calculate. | |||||||
| Offer | Principal (USD) | Annual rate | Months | Upfront fee (USD) | Monthly payment (USD) | Interest (USD) | Total paid (USD) |
| Zero-rate example | $12,000.00 | 0.0% | 24 | $100.00 | $500.00 | $0.00 | $12,100.00 |
| Offer B | $12,000.00 | 6.0% | 24 | $50.00 | $531.85 | $764.34 | $12,814.34 |
| Offer C | $12,000.00 | 5.0% | 36 | $200.00 | $359.65 | $947.43 | $13,147.43 |
Showing the first 16 of 72 rows and 8 of 8 columns. Cells with formulas show the formula on hover.
| Fixed-rate loan comparison | |||
| Method, inputs, and limits for this workbook. | |||
| What it does | |||
| Compare monthly payments and total interest across fixed-rate loan offers with different rates, terms, and upfront fees. | |||
| How to use it | |||
| Replace the fictional records in blue cells with your own data. Keep the dark formula cells. Use the units stated in the column headers and keep each record on one row. Read the calculated columns and inspect the results before using them.… | |||
| Formulas and method | |||
| Monthly payment uses PMT with the annual rate divided by twelve. Total paid equals monthly payment times the number of payments plus upfront fees; interest excludes principal and fees. | |||
| Assumptions and limits | |||
| Payments occur at month end. Fees are paid upfront, not financed. This does not calculate APR, prepayment, variable rates, or tax effects. | |||
| Missing numeric inputs |
Showing the first 16 of 72 rows and 4 of 4 columns. Cells with formulas show the formula on hover.
What does this template do?
Compare monthly payments and total interest across fixed-rate loan offers with different rates, terms, and upfront fees.
Monthly payment uses PMT with the annual rate divided by twelve. Total paid equals monthly payment times the number of payments plus upfront fees; interest excludes principal and fees.
Payments occur at month end. Fees are paid upfront, not financed. This does not calculate APR, prepayment, variable rates, or tax effects.
The working tab keeps editable inputs separate from formulas, with room for 60 records. The Notes tab explains the method and how to extend the range. All example records are fictional and can be replaced. Download a workbook format to retain formulas, or CSV when you need calculated values only.
What’s inside
- Monthly payment uses PMT with the annual rate divided by twelve. Total paid equals monthly payment times the number of payments plus upfront fees; interest excludes principal and fees.
- 60 prepared record rows with blank-row guards
- Blue input cells, typed dates and numbers, and frozen column headers
- Notes with the method, assumptions, and range-extension instructions
Which tabs does the workbook have?
| Tab | What it holds |
|---|---|
| Worksheet | Compare monthly payments and total interest across fixed-rate loan offers with different rates, terms, and upfront fees. |
| Notes | How to use the workbook, formula method, assumptions, and file format limits. |
What formulas does this template use?
This template holds 182 formulas in 229 cells across 2 tabs, so 79% of its cells calculate. They use 7 distinct functions; the longest formula is 111 characters.
| Function | Uses | What it does |
|---|---|---|
IF | 541 | one result when a test is true, another when false |
COUNT | 180 | counts numeric cells |
OR | 60 | true when any test is true |
PMT | 60 | level payment on a loan |
COUNTIF | 2 | counts cells meeting one condition |
COUNTA | 1 | counts non-empty cells |
MIN | 1 | smallest value |
Counted from the workbook itself. Only functions that Excel, LibreOffice Calc, Google Sheets and Apple Numbers evaluate the same way are used, so the formulas survive every download format.
How do you use it?
- Replace the fictional records in blue cells with your own data. Keep the dark formula cells.
- Use the units stated in the column headers and keep each record on one row.
- Read the calculated columns and inspect the results before using them. Clear unused input rows; keep their formulas.
- The prepared range holds 60 records in rows 11–70. Extend formulas and summary ranges together if you add more rows.
What is it good for?
- Compare monthly payments and total interest across fixed-rate loan offers with different rates, terms, and upfront fees
- Replacing the labeled fictional records with your own figures
- Checking a calculation before adapting it to a larger workbook
Questions about this sheet
How is the result calculated?
Monthly payment uses PMT with the annual rate divided by twelve. Total paid equals monthly payment times the number of payments plus upfront fees; interest excludes principal and fees.
What assumptions should I check?
Payments occur at month end. Fees are paid upfront, not financed. This does not calculate APR, prepayment, variable rates, or tax effects.
Can I add more than 60 records?
Yes. Copy the formula columns into new rows and extend every summary range to include them. Keep inputs and formulas in their original columns.
Are the example records real?
No. All example data is fictional and intended to demonstrate the formulas. Replace it before using the workbook for your own work.