General overview
The template is constructed to calculate the credit sales for all industries but mainly used for cars, light and heavy equipment
The template helps the user to calculate the interest on the financing amount (selling price – down payment)
This model is very simple to use by simply recording the down payment and interest on credit sales as well as financing period
The template is fully-editable / customizable model
Inputs
Update the general info in the Front Page
Enter the selling price
Enter the current year
Select the month
Enter the down payment %
Enter the interest rate per annum
Select the financing period
Outcome
Interest amount by month
Total interest
Monthly payment
Loan balance every month
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