Amortization Schedule Replace Page For Free

Even a single extra payment made each year can reduce the amount of interest and shorten the amortization, as long as the payment goes toward the principal and not the interest (make sure your lender processes the payment this way).

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.

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.

Then, once you have calculated the payment, click on the "Printable Loan Schedule" button to create a printable report. You can then print out the full amortization chart.

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...

Amortization Calculation You'll need to divide your annual interest rate by 12. For example, if your annual interest rate is 3%, then your monthly interest rate will be 0.0025% (0.03 annual interest rate ÷ 12 months). You'll also multiply the number of years in your loan term by 12.