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How to calculate a remaining loan balance in Excel and Google Sheets
Topic:Finance basicsExcel & Google Sheets
=PV(A2/12,B2-C2,D2)✓
Verified example
Computed by a real spreadsheet engine on the sample data below.
| Annual Rate | Term (months) | Payments Made | Monthly Payment | Balance |
| 0.06 | 360 | 60 | -1199 | |
| 0.045 | 180 | 36 | -1530 | |
| 0.08 | 60 | 12 | -2028 | |
| 0.035 | 240 | 24 | -1160 |
=PV(A2/12,B2-C2,D2)→186093.029944613
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Step by step
- 1Column A = Annual Interest Rate, Column B = Total Loan Term (months), Column C = Payments Made So Far, Column D = Monthly Payment (as a negative number).
- 2In E2 enter =PV(A2/12,B2-C2,D2) — this returns a negative number; wrap with ABS or negate: =-PV(A2/12,B2-C2,D2).
- 3Alternatively use =CUMPRINC(A2/12,B2,LoanAmount,1,C2,0) to sum only the principal paid and subtract from original loan.
- 4Verify: PPMT and IPMT functions can confirm the split at any payment number.
Tips
- If your payment is stored as a positive number, add a minus sign in the formula: =-PV(A2/12,B2-C2,-D2) or ABS(PV(...)).
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Frequently asked
What is the difference between PV and CUMPRINC approaches?
PV calculates the remaining balance as the present value of future payments — simpler but requires knowing the payment amount. CUMPRINC sums the principal repaid and subtracts from the original principal — useful when you know the loan details directly.
How do I find the monthly payment if I only know the loan details?
Use PMT: =PMT(AnnualRate/12,TermMonths,-LoanAmount) which returns the regular payment amount.
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