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.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. This spreadsheet-based calculator creates an amortization schedule for a fixed-rate loan, with optional extra payments. Enter the variables for your loan. Fill in your variables in the adjacent cells to your labels. Provide the lender name, the percentage rate, the amortizing term, and the loan amount. Offering a wide range of industry-specific financial model templates in Excel and related financial projection templates from expert financial modelers. Ignorance about the order or value of things.