Amortization Schedule Insert Option Field For Free

1. Open Excel and select Loan Amortization Schedule from the template gallery.On the left-hand side, there are fields for Loan amount, Annual interest rate, Loan period in years, Number of payments per year, and Start date of loan.

Enter the corresponding values in cells B1 through B3. In cell B4, enter the formula "=-PMT(B2/1200,B312,B1)" to have Excel automatically calculate the monthly payment. For example, if you had a $25,000 loan at 6.5 percent annual interest for 10 years, the monthly payment would be $283.87.

Stay on top of a mortgage, home improvement, student, or other loans with this Excel amortization schedule. Use it to create an amortization schedule that calculates total interest and total payments and includes the option to add extra payments.

It's relatively easy to produce a loan amortization schedule if you know what the monthly payment on the loan is. Starting in month one, take the total amount of the loan and multiply it by the interest rate on the loan. Then for a loan with monthly repayments, divide the result by 12 to get your monthly interest.

You can build your own amortization schedule and include an extra payment each year to see how much that will affect the amount of time it takes to pay off the loan and lower the interest charges.

Define input cells. As usual, begin with setting up the input cells. Calculate a scheduled payment. Set up the amortization table. Build formulas for amortization schedule with extra payments. Hide extra periods. Make a loan summary.

It's relatively easy to produce a loan amortization schedule if you know what the monthly payment on the loan is. Starting in month one, take the total amount of the loan and multiply it by the interest rate on the loan. Then for a loan with monthly repayments, divide the result by 12 to get your monthly interest.