How To Create A Loan Payment Schedule In Excel For the latter open Excel go to the Home section and select More Templates Type Amortization in the search box and you ll see the Simple Loan Calculator Select the template and click Create to use it You ll see a tool tip in the top left corner of the sheet as well as when you select the cells containing the loan details at the top
1 We use the PMT function to calculate the monthly payment on a loan with an annual interest rate of 5 a 2 year duration and a present value amount borrowed of 20 000 We use named ranges for the input cells 2 Use the PPMT function to calculate the principal part of the payment The second argument specifies the payment number Using The Pmt Function Excel s PMT function calculates payments with ease It factors in interest rate loan term and principal balance To get started open Excel and select a blank cell Here s the formula you ll use PMT rate nper pv rate your loan s interest rate per period nper total number of payments
How To Create A Loan Payment Schedule In Excel
How To Create A Loan Payment Schedule In Excel
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Loan duration in years Payments per year for ex 12 for monthly 52 for weekly and 26 for fortnightly Loan amount For the sake of the example on this page I am using 5 35 annual interest rate cell D3 30 years loan duration cell D4 12 payments per year cell D5 and 100 000 loan amount cell D6 9 Highlight cells B9 through H9 When you rest the mouse cursor over the bottom right part of the highlighted area the cursor will turn to a crosshair 10 Drag the crosshair all the way down to row 367 This populates all the cells through row 367 with the amortization schedule
The Excel formula used to calculate the lending rate is RATE 12 B4 B2 B3 RATE 12 13 960 120000 Note that the corresponding data in the monthly payment must be given a negative sign This This amortization schedule Excel template is for fixed monthly payments You can specify the loan conditions and Excel will calculate everything else automatically When you open the loan amortization Excel template you will see two distinct sections You can add your loan details in the first section
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The first step in creating an amortization schedule is setting up your table Open Microsoft Excel and create a new workbook In the first row create column headers for date payment principal interest and balance Step 2 Enter Loan Information Enter the loan information in the appropriate cells Here s a guide to help you create your own schedule In Excel set up your loan information in cells A2 A3 and A4 for the loan amount number of years and interest rate respectively Enter the corresponding values in the cells in column B Under Payment enter an array of numbers to represent the months of each payment e g 1 for
Download our free Excel Monthly Amortization Schedule template to generate your monthly amortization schedule and read the article to learn how to use this article efficiently Download the Excel Template Download Excel Template For Excel 2007 or later License Private Use This Excel loan payment schedule is simple to use Just fill in the 4 green cells at the top of the worksheet First Payment The date when you ll make your first loan payment Loan Amount The amount you are borrowing Months The number of months over which you ll pay back the loan Annual Rate The annual rate of interest for the loan
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How To Create A Loan Payment Schedule In Excel - Open Excel and create a new spreadsheet Open a new Excel spreadsheet and label the columns as Payment Number Payment Date Payment Amount Principal Paid Interest Paid and Remaining Balance Enter the loan details In the first row below the column headings enter the loan amount interest rate term