If you would like to figure out what a loan payment will be, use Excel’s PMT function.

=PMT(rate,nper,pv,fv,type)

Rate = Interest rate for the loan. Because the interest rate is per annum, you must divide it by 12.
Nper=Number of payments, expressed in years x 12.
Pv=Present Value, otherwise known as the principal or loan amount
Fv=future value, or a cash balance you want to attain after the last payment is made. If fv is omitted, it is assumed to be 0 (zero), that is, the future value of a loan is 0.
Type = (Optional) When payments are due. (Zero or omitted=end of period, 1 is at beginning of period).

The following is an example of a mortgage loan payment calculation:

The function typed in to cell B7 in this illustration is =PMT(B5/12,B6*12,B4).  B5 is the interest rate, which must be divided by 12 because it is an annual rate. B6 is the loan term, which must be multiplied by 12 for the 12 payments per year. B4 is the loan amount. In this example, there is no need to include Future Value or Type. 

Note:  There is also a PPMT function.  PPMT returns the principal portion of a specific loan payment; where PMT returns the full, fixed payment for a loan.