This finance video tutorial explains how to create an amortization table in excel. Use the following formulas to show the total payment, interest portion of the payment, and principal portion of the payment.The Loan Amortization Schedule is a Microsoft Excel Spreadsheet that comes with formulas already in place. Use it to track payments and loan balances. Here is the link to my spreadsheet where you can calculate a loan over x years to be paid back monthly. It will give you the amortized payment amount. Step 1: Set up your amortization table. Open a new Excel sheet and create input cells for the known components of your loan.