In this video I'm going to show you how you can use Microsoft Excel to conduct a fairly straightforward exercise in loan amortization. Download a Free Balloon Loan Payment Calculator for Excel.Calculate the balloon payment and amortization schedule for variaous loans. This calculator computes the payment amount necessary for a mortgage with a balloon payment, using monthly interest compounding and monthly payments. This calculator can create a loan amortization schedule given only three of four necessary variables. A stepbystep guide for making loan payment tables: How to create an amortization schedule in Excel? Examples and free templates. For a printable payment schedule, click on "Create Amortization Schedule" and a new browser window will open. Calculate your estimated monthly truck payments using this free online calculator. We host an amortization calculator which enables you to create printable amortization tables.