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Loan Amortization Schedule Excel With Compound Interest In Salt Lake
State:
Multi-State
County:
Salt Lake
Control #:
US-0019LTR
Format:
Word;
Rich Text
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FAQ
You can ask your lender for an amortization schedule, but this might not be as helpful if you're looking to see how extra payments could impact that schedule.
The compound interest is found using the formula: CI = P( 1 + r/n)nt - P. In this formula, P( 1 + r/n)nt represents the compounded amount. the initial investment P should be subtracted from the compounded amount to get the compound interest.
Fortunately, Excel can be used to create an amortization schedule. The amortization schedule template below can be used for a variable number of periods, as well as extra payments and variable interest rates.
More info
Loan Amortization Schedule outlines the interest and principal payments owed on a mortgage, including the outstanding balance. Just convert the "daily compound interest" into "effective monthly interest".