Excel Loan Amortization Schedule 1

[Fae]

The Excel Loan Amortization Schedule REQUIRES that LOAN PERIOD IN YEARS, need to be whole numbers. How do i get around that if i do not want a whole number, instead i need 3½ years.

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[GlennUK]

Can you be more specific ... which Loan Amortization Schedule? i.e. which function please? Or have I misunderstood?

Cheers, Glenn.

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[Fae]

You can either get it from your templates in Excel, (File, New) or you can download the Loan Amortization Schedule from the Microsoft Template site)

It will be a bit tricky to get all the data in here - alternatively i could email it to you ?

Thanks for the response

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imposibilities take a little longer.

 

[SkipVought]

Fae,

It is based on the PMT function.

Did you LOOK at HELP on the PMT function?

Do you understand HOW to use the PMT function?

PMT
See Also

Calculates the payment for a loan based on constant payments and a constant interest rate.

Syntax

PMT(rate,nper,pv,fv,type)

For a more complete description of the arguments in PMT, see PV.

Rate is the interest rate for the loan.

Nper is the total number of payments for the loan.

Pv is the present value, or the total amount that a series of future payments is worth now; also known as the principal.

Fv is the future value, or a cash balance you want to attain after the last payment is made. If fv is omitted, it is assumed to be 0 (zero), that is, the future value of a loan is 0.

Type is the number 0 (zero) or 1 and indicates when payments are due.

Set type equal to If payments are due
0 or omitted At the end of the period
1 At the beginning of the period


Remarks

The payment returned by PMT includes principal and interest but no taxes, reserve payments, or fees sometimes associated with loans.


Make sure that you are consistent about the units you use for specifying rate and nper. If you make monthly payments on a four-year loan at an annual interest rate of 12 percent, use 12%/12 for rate and 4*12 for nper. If you make annual payments on the same loan, use 12 percent for rate and 4 for nper.

Tip To find the total amount paid over the duration of the loan, multiply the returned PMT value by nper.

You can use whatever PERIOD you choose!

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[Fae]

yes i did look at the pmt function - and i do understand it - i will see if i can work it out .. thanks for your help

Miracles we do immediately ...
imposibilities take a little longer.