Microsoft Excel provides a variety of amortization schedule templates that make it easy to calculate principal and interest portions of loan payments. This user-friendly tool is an efficient means for creating schedules, and they do not require specialized knowledge often associated with Excel formulas and macros.
Follow the steps below to create an Excel Amortization Schedule:
- Open Microsoft Excel,
- Create a new spreadsheet by selecting the “New” option from the left-hand sidebar,
- Perform a keyword search of the term “amortization schedule”, followed by clicking the magnifying glass (screen-shot below displays results of this query),
- Select a template from the options provided.
I regularly use the template titled Loan amortization schedule (from left to right; it is the third item listed in the picture above), as it generates complete schedules efficiently and effortlessly. In addition, the schedule can be printed to create a high-quality resource that I like to include in my work-paper file. Below is a screen-shot of the design layout for this amortization schedule template.