How to calculate compound growth in Excel using the RATE function. [AllFinancialMatters]
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well, if you already are mentioning excel and interest rates....
I have found the every single excel installation I have seen has a template to calculate an amortization schedule. Very useful in see (visually) the effect the rate has on your home loan.
Open a new template in excel and then switch the tab from general to spreadsheet solution, then click loan amortization.
Have fun playing with the numbers.
TIP: the 'extra payment' option is also quite useful for the frugal
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