Loan Amortization Table template

Does anyone know where I can find a good automatic loan amort table/template that just lets you input information and it creates the complete loan amort schedule for you? I need one that calculates interest only, and then interest + principal whatever years after. Thanks.

 
moneymonkey323:

If I do then I wouldn't be asking

What a douchebag. Pathetic, how can you pretend to work in finance and not be able to build this.
"After you work on Wall Street it’s a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side.” - David Tepper
 

Here's a very basic 5 year amort schedule with I/O option. Fill out loan amount, interest rate, amort, i/o period. Should be able to copy and paste into excel.

Loan Amount 100000
Interest Rate 0.05
Amortization (years) 25
I/O Period (years) 2
I/O Payment (monthly) =IF(C4>0,C2/12C1,"")
P&I Payment (monthly) =IF(ISERROR(PMT(C2/12,C3
12,-C1)),"",PMT(C2/12,C3*12,-C1))

Month Interest Principal Balance 1 =$C$2/12*C1 =IF(A9

 

curious

Don't you amortize the loan principal over 23 years after the I/O period is over, resulting in higher monthly payments as opposed to if the loan was a CPM?

If so then I would tweak the 'P&I Payment (monthly)" formula to: =IF(C4>0,(PMT(C2/12,(C3-C4)12,-C1)),PMT(C2/12,C312,-C1))

If not, disregard :D

 

Thanks for clarifying RE Dev and SHB. With the provided excel, interest is being calculated on a "30/360" basis. How would you alter the interest formula if the interest rate calculation had to be on a "actual/360" basis?

I've tried: Beginning_BalanceInterest_RateYEARFRAC(4/1/2009,5/1/2009,2) but my Ending Balance down the line doesn't tie out.

 

To do an exact (probably far more exact than what you need) actual/360 you would need to change the table up and have inputs for loan start date and loan end date, as you would need ot know if month 1 was a 30 or 31 day month. From there you can use the ability of excel to count days, etc, etc. I havn't done it but I'm not really inclined to as well.

What would save you a ton of time and effort is to do the following to your interest rate: Rate*(365/360), or 366 on leap years, while its not perfect it will approximate the actual interest rate.

 
RE Dev:

=(D10-C10)/360*$F$5*E10 is the interest payment from an amort table I put together when we want actual interest. C is first day of month, D is first day of next month (I use edate), F5 is the interest rate and E is the outstanding principal. Basically you're taking the days in that month/360 * interest rate.

Better to use YEARFRAC for your days calc. You can then chose between Act/360, 30/360, act/act etc.....
"After you work on Wall Street it’s a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side.” - David Tepper
 

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