Loan amortization is a financial tool used to determine the ideal monthly payment on a mortgage loan. Amortization is also helpful in allocating different amounts of a fixed payment to interest and principal each month. Amortization schedules generally assign higher values to interest in initial payment periods and higher values to principal in later periods. While there are a number of free, online amortization calculators, you can create your own custom schedule using Microsoft Excel.

Type “Principal:” in cell A1, “Interest Rate:” in cell A2, “Loan Term:” in cell A3 and “Monthly Payment:” in cell A4. Highlight cells A1 through A4, then click the right-align button on the formatting ribbon.

Enter the total loan amount in cell B1. Enter the interest rate in cell B2. Enter the loan term, expressed in months, in cell B3. To calculate the loan term in months, multiply the total number of years on the loan by 12.

**Amortization table for student loans**

Use the tool below to generate a printable amortization schedule for your home or auto loan. Simply enter the principal (amount borrowed), the length of the loan in months (number of years times 12), the interest rate as a * decimal* (percent divided by 100), then hit the "Create Table" button. A new window will appear with a printable amortization table that also includes the amount of your monthly payments.

Loan amortization is a financial tool used to determine the ideal monthly payment on a mortgage loan. Amortization is also helpful in allocating different amounts of a fixed payment to interest and principal each month. Amortization schedules generally assign higher values to interest in initial payment periods and higher values to principal in later periods. While there are a number of free, online amortization calculators, you can create your own custom schedule using Microsoft Excel.

Type “Principal:” in cell A1, “Interest Rate:” in cell A2, “Loan Term:” in cell A3 and “Monthly Payment:” in cell A4. Highlight cells A1 through A4, then click the right-align button on the formatting ribbon.

Enter the total loan amount in cell B1. Enter the interest rate in cell B2. Enter the loan term, expressed in months, in cell B3. To calculate the loan term in months, multiply the total number of years on the loan by 12.

Many of the inputs and outputs of the calculator are fairly self explanatory. Here we will provide information on some of the more detailed functionality of the calculator:

* Graphs*

The calculator will graph financial metrics through time. One of these graphs shows the total principal remaining as well as the cumulative interest payments.

You can see that early in the loan, the total principal decreases slowly while the cumulative interest payments increases at a faster rate than during the latter part of the loan.

Here’s how you get to the template in Excel 2007 (which according to my recent poll is the version most readers use, if only by a hair).

In Excel 2007, go to the “menu” button (the goofy-looking windows symbol in a circle) in the upper left-hand corner. Click on “New”. This will bring up the following window:

Click on “Installed templates”, which will bring up seven built-in templates for you to choose from. Double-click on “Loan Amortization”.

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