Loan Amortization Schedule Excel 2007

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There may a situation arise that you have to borrow money from a mortgage. You can easily create amortization schedule using Excel 2007. How to make Loan amortization schedule Excel 2007?

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Answered By 0 points N/A #92581

Loan Amortization Schedule Excel 2007

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Steps to create amortization schedule:

  • Open Excel 2007 on your computer.
  • Open a blank sheet.
  • Cell B1 will contain your interest rate.
  • Provide it a name like ‘Rate’.
  • Cell B2 will contain the number of months you have to pay.
  • Provide it a name like ‘Term’.
  • Cell B3 will contain the amount you borrowed.
  • Provide it a name like ‘Principal’.
  • In Cell A6 number 1 will be written that is your payment number.
  • If you write the formula =Principal in A6 then the same amount will appear in Cell B6 and B3.
  • Write =PPMT (Rate/12, $A6, Term, Principal) in Cell C6.
  • Write =IPMT (Rate/12, $A6, Term, Principal) in Cell D6. This tells the interest to be paid.
  • Type =PMT (Rate/12, Term, Principal) in Cell E6. This is the total amount.
  • Enter formula =A6+1 in A7 Cell.
  • Enter formula B6+C6 in Cell B7. It has the new principal.

You can install templates for amortization in the Excel spreadsheet. In Excel 2007:

  • Press on the Office button and select New.
  • A new workbook dialog box will open.
  • From the left side click on the Installed templates.
  • Select the Loan amortization Template.
  • Then press on Create which will load the template.
  • Fill the details. In Excel 2010:
  • From the ribbon click on the file tab.
  • From the left side click on New.
  • Select the Sample templates.
  • Select the Loan amortization Template.
  • Then press on Create which will load the template.
  • Fill the details. (290)

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