The tutorial shows how to build an amortization schedule in Excel to detail periodic payments on an amortizing loan or mortgage. Loan period in years, 1, Actual number of payments, 10.This spreadsheet creates an amortization schedule for a fixed-rate loan, with optional extra payments. Loan Amortization Schedule outlines the interest and principal payments owed on a mortgage, including the outstanding balance. A Loan Amortization schedule breaks down each payment into its interest and principal components for the full term of the loan. School, during the grace period and during any periods when you are authorized to defer your loan payments.