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It's relatively easy to produce a loan amortization schedule if you know what the monthly payment on the loan is. Starting in month one, take the total amount of the loan and multiply it by the interest rate on the loan. Then for a loan with monthly repayments, divide the result by 12 to get your monthly interest.

You can build your own amortization schedule and include an extra payment each year to see how much that will affect the amount of time it takes to pay off the loan and lower the interest charges.

The loan amount, interest rate, term to maturity, payment periods, and amortization method determine what an amortization schedule looks like. Amortization methods include the straight line, declining balance, annuity, bullet, balloon, and negative amortization.

1. Open Excel and select Loan Amortization Schedule from the template gallery.On the left-hand side, there are fields for Loan amount, Annual interest rate, Loan period in years, Number of payments per year, and Start date of loan.

Loan Amortization ScheduleUse the PPMT function to calculate the principal part of the payment.Use the IPMT function to calculate the interest part of the payment.Update the balance.Select the range A7:E7 (first payment) and drag it down one row.Select the range A8:E8 (second payment) and drag it down to row 30.More items...

It's relatively easy to produce a loan amortization schedule if you know what the monthly payment on the loan is. Starting in month one, take the total amount of the loan and multiply it by the interest rate on the loan. Then for a loan with monthly repayments, divide the result by 12 to get your monthly interest.

Stay on top of a mortgage, home improvement, student, or other loans with this Excel amortization schedule. Use it to create an amortization schedule that calculates total interest and total payments and includes the option to add extra payments.