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title: "Total interest on a loan | PracticeExcel"
description: "Practice PMT in a live spreadsheet: the total interest a loan costs, from the monthly payment and the term."
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# **Total interest on a loan**

**Premium**

In B5, work out how much interest the loan costs in total: all the monthly payments added up, minus the amount borrowed. That is PMT(B3/12,B4\*12,-B2)\*B4\*12-B2.

B5fx

|  | A | B | C | D | E | F |
| --- | --- | --- | --- | --- | --- | --- |
| 1 | Loan | Value |  |  |  | |
| 2 | Amount borrowed | 50000 |  |  |  | |
| 3 | Interest rate per year | 0.07 |  |  |  | |
| 4 | Years | 3 |  |  |  | |
| 5 | Total interest |  |  |  |  | |
| 6 |  |  |  |  |  | |
| 7 |  |  |  |  |  | |
| 8 |  |  |  |  |  | |

**Premium lesson**

## **Unlock Loans: PMT and NPER and every other lesson**

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