Download free Excel template : Simple Loan Calculator And Amortization Schedule In Excel
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Whether you need a template for tracking your personal finances, or a template for tracking your company's sales, we have a template that will suit your needs.
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How to use templates in Excel?
Our Excel templates are designed to be easy to use and to save you time.
Simply download the attached template "amortization-schedule-excel.xltx",
open it in Excel,
and start using it right away.
No need to waste time creating a template from scratch - our templates are ready to go, and can be customized to fit your specific needs.
About Simple Loan Calculator And Amortization Schedule In Excel Excel Template
An amortization schedule is a table that shows each loan payment and how it is applied to the principal and interest of the loan. The schedule can be created in Excel using the PMT function. The function requires the loan amount, interest rate, and loan term. The loan term is entered in months. The interest rate is entered as a percentage. The first column of the Excel table is for the payment number. The second column is for the date of the payment. The third column is for the amount of the payment. The fourth column is for the amount of the payment that is applied to interest. The fifth column is for the amount of the payment that is applied to the principal. The sixth column is for the remaining balance of the loan. The payment number can be entered in the first column. The date of the payment can be entered in the second column. The payment amount can be entered in the third column. The interest amount can be calculated by multiplying the interest rate by the remaining balance and dividing by 12. The principal amount can be calculated by subtracting the interest amount from the payment amount. The remaining balance can be calculated by subtracting the payment amount from the remaining balance. The amortization schedule can be used to see how much interest and principal is paid each month and how the loan balance decreases over time.