![]() ![]() For example, if the monthly payment is $537.85, enter that amount in each row of the “Payment” column. In the “Payment” column, enter the monthly payment. This will give you the date of the second payment, which is in February. For example, if the start date is January 1, 2021, and you want to calculate the date of the second payment, the formula is =EDATE(C2,1). Enter =EDATE(start date, row number-1) in the cell. In subsequent rows, use the EDATE function to calculate the date of each payment. In the first row of the date column, enter the start date of the loan. Use the fill handle to copy the formulas down to fill in the entire table. Step 3: Create the Amortization TableĬreate the amortization table by inputting the formulas that calculate payments, principal, interest, and balance. This will give you the total payments of $193,626. For example, if the monthly payment is $537.85 and the loan term is 360 months (30 years), the formula is =total(537.85*360). Enter =total(monthly payment*loan term) in a cell. Total PaymentsĬalculate the total payments using the total function. This will give you the monthly payment of $537.85. For example, if the interest rate is 5%, the loan term is 360 months, and the loan amount is $100,000, the formula is =PMT(0.05/12, 360, 100000). Enter =PMT(interest rate/12, loan term, loan amount) in a cell. Monthly PaymentĬalculate the monthly payment using the PMT formula. For example, if the loan term is 360 months (30 years), enter “360” in a cell. Loan TermĮnter the length of the loan in months in a cell in your spreadsheet. For example, if the interest rate is 5%, enter “0.05” in a cell. Interest RateĮnter the annual interest rate in a cell in your spreadsheet. ![]() For example, if your loan is $100,000, enter “100000” in a cell. Loan AmountĮnter the total loan amount in a cell in your spreadsheet. Use the appropriate formulas to calculate the monthly payment and total payments. This includes the total loan amount, interest rate, loan term, and start date. Step 2: Enter Loan InformationĮnter the loan information in the appropriate cells. In the first row, create column headers for date, payment, principal, interest, and balance. Open Microsoft Excel and create a new workbook. The first step in creating an amortization schedule is setting up your table. In this blog post, we will show you how to create an amortization schedule in Microsoft Excel. It will show you how much you will pay in interest and principal over the life of your loan. IntroductionĬreating an amortization schedule in Excel is easy and can help you plan your loan payments. In this blog post, we will guide you on how to create a simple amortization schedule in Microsoft Excel. An amortization schedule is a table that shows the repayment schedule for a loan, including the total balance, monthly payment, interest, and principal. If you’re planning to borrow money to buy a house or to invest in a business, creating an amortization schedule can help you see how much you will pay in principal and interest over time. Microsoft Excel is a powerful tool that enables you to create financial sheets and calculate loan payments with ease.
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