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   Excel can be used just not for calendars or planners.  
It also comes into play when used as math tools
- in the financial management, among other things.

My spreadsheet shows how the PMT function* is used
to calculate the sum of payment, both monthly and total,
 for mortgage and other loans with  a given interest rate and terms.

*  "=PMT(5.77%, 30years, $100,000-)"  $584.84


     

"Mortgage terms are usually 15 or 30 years. 
The longer the term, the lower your monthly payment, 
but the higher your overall interest costs."
( Mortgage Basics - Real Estate Guide
on Yahoo! Personal Finance)

My spreadsheet can be used to calculate the "overall interest costs". 
Try the "Interest" sheet.

- March 2, 2007 -

"The Quicker the Payback, the More You Save

If you take out a loan for a car, get the shortest payback time you can comfortably handle.
 While monthly payments can be reduced by stretching them out over more time,
only a lower interest rate, a smaller loan, or a shorter term will lower the total expense.

A $15,000 loan at 8% for five years, for example, will cost $3,240 in interest.
 You would save $672 if you paid an extra $62 a month for the same size loan
over four years. The total interest cost would drop to $2,568." 

( Financing a New Car - Loans Guide on Yahoo! Personal Finance)

    My spreadsheet can be used to calculate the "total interest costs". 
- March 19, 2007 -

     Monthly Credit Cards, Loans and Utility Payments on Bank Accounts

"If the day a repeating payment is scheduled falls on a weekend or bank holiday,
the payment will be processed the next business day."