This Microsoft Excel template illustrates how to create a loan amortization schedule, as well as dealing with additional payments and variable interest rates. Learn to quickly and efficiently use Microsoft Excel 2019 as you discover dozens of shortcuts and tricks for setting up fully formatted worksheets.This example teaches you how to create a loan amortization schedule in Excel. 1. We use the PMT function to calculate the monthly payment on a loan. Financial Calculators ; Use this calculator to determine your monthly mortgage principal, interest, taxes and insurance payment (PITI) and amortization schedule.