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Loan Amortization Schedule Excel With Variable Interest Rate 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.
You could also calculate simple interest only with the formula I = Prt, where I is interest, P is principal, r is interest rate as a decimal, and t is time period. You then need to add the interest to the original principal amount to get the total interest plus principal.
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
The tutorial shows how to build an amortization schedule in Excel to detail periodic payments on an amortizing loan or mortgage. You can create an Excel amortization table with changing interest rates.Here's how you can build it. This Microsoft Excel template illustrates how to create a loan amortization schedule, as well as dealing with additional payments and variable interest rates.