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Loan Amortization Schedule Excel With Balloon Payment In Broward
State:
Multi-State
County:
Broward
Control #:
US-0019LTR
Format:
Word;
Rich Text
Instant download
Description
Form popularity
FAQ
If there is a "balloon payment" (final balance), enter it into B4 as a positive value, and use the formula =PMT(B2, B3, -B1, B4). Those formulas also assume that payments are at the end of the period (i.e. end of month).
However, the larger balloon payment at the end represents a substantial financial obligation that needs to be carefully planned and managed. Accounting Treatment: The balloon payment is usually recorded as a liability in the financial statements until it becomes due.
In some cases, you may be able to negotiate with your finance provider to spread the balloon payment over monthly instalments – this is essentially what refinancing is. Doing this can help make the payment more manageable and reduce the financial strain of a large lump sum payment.
Yes, and we can help you refinance! If you currently have a car on PCP and want to keep it but can't afford the lump sum, we can help you refinance the balloon payment. We have a bespoke lending panel that can offer finance for PCP final payments You don't need to refinance with your current lender either.
Fortunately, Excel can be used to create an amortization schedule. The amortization schedule template below can be used for a variable number of periods, as well as extra payments and variable interest rates.
