The tutorial shows how to build an amortization schedule in Excel to detail periodic payments on an amortizing loan or mortgage. This Microsoft Excel template illustrates how to create a loan amortization schedule, as well as dealing with additional payments and variable interest rates.You can create an Excel amortization table with changing interest rates. Here's how you can build it. Once it is borrowed, principle and interest are due on a set amortization schedule as set forth in the loan documents. Q: Access an online loan calculator with annual payments, such as the one at mycalculators. Com, to produce an amortization schedule for Welton Corp.