Download a Free Balloon Loan Payment Calculator for Excel. Calculate the balloon payment and amortization schedule for variaous loans.Calculate the monthly payments, total interest, and the amount of the balloon payment for a simple loan using this Excel spreadsheet template. 6. A car loan amortization schedule shows you the life of your loan in full detail including payment amounts that go toward both loan principal and interest. Go to Banking > Enter Loan Details; Select New loan and fill in the fields for amount, rate, date, term, and periods; Click OK to save the loan. Example 1: A 5yr balloon amortizes based on a 30 year amortization schedule.