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. Fill in the column titled "Period" with your payment dates. Input the month and year for the first payment loan within cell A8. Loan Amortization Schedule outlines the interest and principal payments owed on a mortgage, including the outstanding balance.