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Loan Amortization Schedule Excel With Balloon Payment In Houston
State:
Multi-State
City:
Houston
Control #:
US-0019LTR
Format:
Word;
Rich Text
Instant download
Description
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FAQ
These will be cells B1 to B4. Set up your equation enter your variables each variable will be linkedMoreThese will be cells B1 to B4. Set up your equation enter your variables each variable will be linked from your variables you've already entered on your worksheet. Press enter to solve your equation.
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).
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.
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.
