Loan Amortization Schedule Calculator

This loan amortization schedule calculator can be used for any loan up to a maximum term of 3,650 payment periods. The calculator will produce an amortization schedule setting out for each period, the opening balance, the amount of interest, the repayment, and the closing balance.

In addition, the calculator will also show the periodic repayments due on the loan together with the total amount repayable and total interest payable over the term. All payments are assumed to take place at the end of each period.

Loan Amortization Schedule Calculator Instructions

The Excel loan amortization schedule calculator is available for download below. The calculator produces an amortization schedule by entering details relating to the amount of the loan, interest rate and the number of periods.

Loan Amortization Schedule

Accordingly the loan calculator is used as follows:

Step 1

Firstly enter the amount of the loan (PV). This is the amount taken as a loan today, at the start of period 1.

Step 2

Next enter the interest rate (i). It is important to realize that the interest rate should be for a period. For example, if the payments are to be made monthly, then the rate should be the monthly rate.

A nominal annual rate is converted to a periodic rate by dividing by the number of periods in a year. For example, if the annual rate is 9%, then the monthly rate to enter is 9%/12 = 0.75%.

Step 3

Enter the number of periods (n). A period can be any term (month, year etc), but must be consistent with the interest rate provided (see step 2). For example, if the loan is to be repaid monthly for the next 10 years, then the number of periods is 120 months.

Step 4

Finally the loan amortization calculator works out the periodic payment (Pmt) required at the end of each of n periods to repay a loan amount (PV) at a periodic interest rate of i. Additionally it shows the total repayments and interest on the loan.

In addition, the calculator provides an amortization schedule setting out the opening balance, interest, payment, and closing balance for each period of the term.

Loan Amortization Schedule Calculator Download

The Excel loan amortization calculator is available for download in Excel format by following the link below.

The amortization schedule calculator is one of many used when preparing financial projections, discover another at the links below.

Notes and major health warnings
Users use this amortization schedule calculator template at their own risk. We make no warranty or representation as to its accuracy. We are covered by the terms of our legal disclaimer, which you are deemed to have read. This is an example of an amortized loan calculator with amortization schedule that you might use. It is a purely illustrative loan amortization table excel. This is not intended to reflect general standards or targets for any particular company or sector. If you do spot a mistake in the amortization schedule calculator, please let us know and we will try to fix it.
Last modified February 10th, 2023 by Michael Brown

About the Author

Chartered accountant Michael Brown is the founder and CEO of Plan Projections. He has worked as an accountant and consultant for more than 25 years and has built financial models for all types of industries. He has been the CFO or controller of both small and medium sized companies and has run small businesses of his own. He has been a manager and an auditor with Deloitte, a big 4 accountancy firm, and holds a degree from Loughborough University.

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