Showing posts with label Making EMI Calculator. Show all posts
Showing posts with label Making EMI Calculator. Show all posts

Saturday, April 10, 2010

Add Spin Buttons Active X Excel

In my previous posts I have shared EMI Calculator with you. This was mode using Excel PMT function and Spin Buttons ActiveX Controls in Excel. In this post I am sharing how to add spin buttons ActiveX controls to excel worksheet.

Add Spin Buttons Active X Excel

Step 1 Have Developer Tab visible in your Excel 2007. In case you already have it proceed to step 2
Step 2 Click on Insert under controls group
Step 3 Click on Spin Buttons under ActiveX Controls
Step 4 Draw Spin Button on your worksheet.
Step 5 Rename the Spin Button Object
Step 6 Add VBA code to the Spin Button

Checkout Screen Cast Below
Add Spin Buttons Active X Excel


In this screen cast we have added spin button next to loan amount and renamed the spin button object as Loan
Similarly add two more spin buttons next to Interest Rate and Years. Rename them as Interest and Years respectively.

To make these buttons work we need to add VBA code. Separate macros are required for each button that is why we have renamed the spin buttons. It is to give them a name that can be related later on by us when we look at the macro code. Macro code will be using the names we have given to them

Now to add the VBA code , double click on the spin button object, it will open VBA editor. Copy following VBA code to worksheet module

Private Sub Loan_SpinDown()
    With Range("C4")
        .Value = WorksheetFunction.Max(100000, .Value - 100000)
    End With
End Sub

Private Sub Loan_SpinUp()
    With Range("C4")
        .Value = WorksheetFunction.Min(10000000, .Value + 100000)
    End With
End Sub

Private Sub Interest_SpinDown()
    With Range("C5")
        .Value = WorksheetFunction.Max(0.03, .Value - 0.0025)
    End With
End Sub

Private Sub Interest_SpinUp()
    With Range("C5")
        .Value = WorksheetFunction.Min(0.25, .Value + 0.0025)
    End With
End Sub
Private Sub Years_SpinDown()
    With Range("C6")
        .Value = WorksheetFunction.Max(1, .Value - 1)
    End With
End Sub

Private Sub Years_SpinUp()
    With Range("C6")
        .Value = WorksheetFunction.Min(25, .Value + 1)
    End With
End Sub


With this your EMI Calculator with Spin Buttons ActiveX Controls is ready

Visit EMI Calculator page if you want to download excel file complete with macros and Spin Buttons Activex controls

Friday, April 2, 2010

Excel Formula : PMT Function

In my previous post I shared EMI Calculator with you. In this post I am sharing how to make EMI Calculator. This has been done using PMT Function in excel to calculate EMI amount and Spin Buttons ActiveX Controls to fine tune the amounts.
EMI Calculator



Using PMT Function in Excel


PMT Function Calculates the payment for a loan based on constant payments and a constant interest rate. For calculating EMI you need 3 inputs.

Loan Amount , Annual Interest Rate, Loan Period in Years. Using these figures EMI can be calculated with PMT Function in Excel
EMI Calculator

Syntax : PMT(RATE,NPER,PV,FV,TYPE)

RATE : is the interest rate for the loan. In case you are making monthly payments devide the annual rate by 12 to get monthly rate.

NPER : is the total number of payments for the loan. When payments are made on monthly basis you need to multiply number of years with 12 to arrive at total number of payments.

PV : is the present value, or the total amount that a series of future payments is worth now; also known as the principal. We take this figure as (-) Negative in our formula since it is receipt of funds.

FV : is the future value, or a cash balance you want to attain after the last payment is made. If fv is omitted, it is assumed to be 0 (zero), that is, the future value of a loan is 0. In our formula we omit this figure as we need to reach zero balance at the end of term.

Type : is the number 0 (zero) or 1 and indicates when payments are due. If payments are due at the end of the period use 0 or omit this figure. use 1 if payments are made at the beginning of the period. In our formula we have omitted this.

We have calculated our figures with following formulas

EMI : =PMT(Interst/12,Years*12,-LoanAmt)

Total Amount with Interest - This is total outgo during the loan term. This can be calculated using : = EMI*Years*12

Flat Interest Rate : = (Total Amount with Interest - LoanAmt)/LoanAmt/Years : Many financiers talk about Flat interest rate while landing money. They calculate simple interest on entire loan amount for entire period of the loan. Many people go for the loan without understanding the actual interest rate. Flat interest rate looks very attractive as it is much lower than the actual interest rate which is calculated on reducing balance. You can see the difference in the figures above. So be careful while borrowing on flat interest rate.

In next post I will cover Adding Spin Buttons ActiveX Controls to Worksheet.