Below are two Excel spreadsheets which will calculate the amortization of a loan after manual entry of Purchase Price, Down Payment (nets with Purchase Price to obtain Loan amount), Interest Rate, Loan Period and Loan Start Date.
The resulting table details the amortization of the entire loan for each month of the loan’s life. Also provided, is a summary table highlighting the total cost of the loan and the cost of the purchased item (including the down payment). When you open the document using the link below, make sure you save a copy first, as the file will be “Read Only”.
The first file uses named ranges and named formulas to calculate the resulting table. Its quite interesting to review the Conditional Formating that produces the borders and cells.
Download the Loan Amortization Schedule Here
The second spreadsheet is essentially the same with the exception that no named ranges were used to create it. One added feature is a summary table that presents, by year, the loan's activity.
Download the Loan Amortization Schedule with Summary Here
Try them both out if you are unsure what you want. Enjoy!
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