Create automatic loan amortization schedule table with PMT, IPMT, PPMT formulas in Microsoft Excel An amortization schedule is a table format that lists periodic payments on a loan or mortgage over a period of time.A little formula creation trouble and how to figure out some logic to fix your formulas and custom number formatting. Use the PPMT function to calculate the principal part of the payment. Download the amortization schedule from Microsoft. 2. Open the template in Excel. 3. Almost any data field on this form may be calculated. Paying off your car loan early allows you to get back what you would've paid in interest. Use Schedule E (Form 1040) to report income or loss from rental real estate, royalties, partnerships, S corporations, estates, trusts, and residual interests.