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Excel Loan Amortization Template With Extra Payment In Washington
State:
Multi-State
Control #:
US-0019LTR
Format:
Word;
Rich Text
Instant download
Description
Form popularity
FAQ
FV=PMT(1+i)((1+i)^N - 1)/i where PV = present value FV = future value PMT = payment per period i = interest rate in percent per period N = number of periods.
Ideally, you want your extra payments to go towards the principal amount. However, many lenders will apply the extra payments to any interest accrued since your last payment and then apply anything left over to the principal amount. Other times, lenders may apply extra funds to next month's 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.
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.
