Loan-calculation information is an important financial function when dealing with customer payment information. Excel provides built-in functionality for calculating loan terms including payments, principal, and so on. However, Excel requires the information to be entered into a worksheet.
In this recipe, you will learn how to create a standalone application that can be used as a loan calculator for calculating loan terms to be used elsewhere within the Excel workbook.
We will begin by adding a UserForm to the current worksheet that will prompt the user for the parameters of the loan:
1. From within an Excel worksheet, press Alt + F11 on your keyboard to open the visual basic editor (VBE).
2. Once open, choose Insert | UserForm from the tools menu to add a new blank UserForm:
3. Using the toolbox located to the left of the UserForm, click on the textbox tool (ab|) to add a textbox to the form.
4. Using your mouse, draw a text in the upper-middle...