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Author: admin | Category: Auto Car Loan Calculator | Date: 24.05.2016

Amortization Loan Calculator Know Mortgage Pictures, Amortization Loan Calculator Know Mortgage Images. Download a Free Loan Calculator Spreadsheet for creating a payment schedule and a table showing the summary of principal and interest payments, with optional extra payments. We accumulated the necessary experience in developing applications that are easy to use by our end customers and are easy to maintain and update by our own developers. The Vertex42™ Interest-Only Loan Calculator is a very powerful spreadsheet based on our popular Loan Amortization Schedule. Both fixed-rate and variable-rate loans and mortgages often give you an interest-only payment option.
During the interest-only period, you are usually allowed to make extra payments on the principal if you want to, without paying any penalty fees. At the end of the IO period, the new monthly payment is calculated based on the number of years you have remaining on your loan and your current balance.
This spreadsheet creates an amortization schedule for a fixed-rate loan, with optional extra payments and an optional interest-only period. A commercial use version of this Interest-Only Loan calculator is included as a bonus spreadsheet when you purchase the Loan Amortization Schedule. Be sure to read the comments within the file (marked with a little red triangle on some of the cells) if you have questions.
I can't answer that for you, but I would strongly recommend reading through the material listed in the references below. Disclaimer: This spreadsheet and the information on this page is for illustrative and educational purposes only. An amortization schedule is a list of payments for a mortgage or loan, which shows how each payment is applied to both the principal amount and the interest. This spreadsheet-based calculator creates an amortization schedule for a fixed-rate loan, with optional extra payments. Start by entering the total loan amount, the annual interest rate, the number of years required to repay the loan, and how frequently the payments must be made.
The payment frequency can be annual, semi-annual, quarterly, bi-monthly, monthly, bi-weekly, or weekly. The Commercial Version allows you to use this spreadsheet in your loan or financial advisory business. The header includes a place for the borrower's name and your company info: View Screenshot.
The Vertex42 logo and copyright are outside the print area so that they don't show up when you print the schedule.


This spreadsheet provides a more advanced way to track actual payments than the Payment Schedule included in the standard Loan Amortization Schedule. Usually, the interest rate that you enter into an amortization calculator is the nominal annual rate. Basic amortization calculators usually assume that the payment frequency matches the compounding period. Some loans in the UK use an annual interest accrual period (annual compounding) where a monthly payment is calculated by dividing the annual payment by 12.
There are two scenarios in which you could end up with negative amortization in this spreadsheet (interest being added to the balance). A loan payment schedule usually shows all payments and interest rounded to the nearest cent.
When an amortization schedule includes rounding, the last payment usually has to be changed to make up the difference and bring the balance to zero.
With this template, it is really quite simple to handle arbitrary extra payments (prepayments or additional payments on the principal).
If you are on your last payment or the normal payment is greater than (1+rate)*balance, then pay (1+rate)*balance, otherwise make the normal payment.
It helps you calculate your interest only loan payment for a fixed-rate loan or mortgage and lets you specify the length of the interest-only (IO) period. This option allows you to make payments, for a certain number of years, that include interest only (no principal).
Simply enter your loan information in the cells with the white background and everything else is calculated automatically.
A fixed-rate loan with an interest-only option is fairly simple to understand and predict, but interest-only mortgages with adjustable rates seem much more risky.
The schedule shows the remaining balance still owed after each payment is made, so you know how much you have left to pay. Then you can experiment with other payment scenarios such as making an extra payment or a balloon payment. You can also make multiple copies of the Schedule worksheet within the same workbook, to compare different loans and scenarios. It can be used to estimate a payment schedule for a Simple Interest Loan or Simple Interest Mortgage, in which the interest accrues daily in a separate interest accrual account.
It allows you to create a payment schedule for a fixed-rate loan, with optional extra payments and an optional interest-only period. However, when creating an amortization schedule, it is the interest rate per period that you use in the calculations, labeled rate per period in the above spreadsheet.


In that case, the rate per period is simply the nominal annual interest rate divided by the number of periods per year. You can also calculate the effect of including extra payments before and after the IO period. To create an amortization schedule using Excel, you can use our free amortization calculator which is able to handle the type of rounding required of an official payment schedule.
Make sure to read the related blog article to learn how to pay off your loan earlier and save on interest.
When the compound period and payment period are different (as in Canadian mortgages), a more general formula is needed (see my amortization calculation article).
The way to simulate this using our Amortization Schedule is by setting both the compound period and the payment frequency to annual.
The second is if you choose a compound period that is shorter than the payment period (for example, choosing a weekly compound period but making payments monthly).
Changing the Payment Amount makes more sense to me, and is the approach I use in my spreadsheets. For fixed-rate loans, this reduces the balance and the overall interest, and can help you pay off your loan early. You can use the free loan amortization schedule for mortgages, auto loans, consumer loans, and business loans. Many loan and amortization calculators, especially those used for academic or illustrative purposes, do not do any rounding.
So, depending on how your lender decides to handle the rounding, you may see slight differences between this spreadsheet, your specific payment schedule, or an online loan amortization calculator.
But, the normal payment remains the same (except for the last payment required to bring the balance to zero - see below). You may need to change this option if you are trying to match the spreadsheet up with a schedule that you received from your lender.
If you are a small private lender, you can download the commercial version and use it to create a repayment schedule to give to the borrower.
This spreadsheet rounds the monthly payment and the interest payment to the nearest cent, but it also includes an option to turn off the rounding (so that you can quickly compare the calculations to other calculators).



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