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Calculate the payment amount for the loan in cell C15. Reference the cells containing the
appropriate loan information as the arguments for the function you use. Cells C20-C67 in the
"Payment" column are populated with the payment amount from cell C15.
=PMT(C13/12,C12,C11)
Calculate, in cell D20, the interest amount for period 1 by multiplying the balance in period 0
(cell F19) by the loan interest rate (cell C13) divided by 12. Dividing the interest rate by 12
results in the monthly interest rate. This formula is reusable. The interest for a given period is
always the monthly interest rate times the balance from the previous period.
f
=F19*C$13/12
Copy the Interest amount calcualtion down to complete the "interest" column of the
amortization table.
Paste down column .
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Calculate, in cell E20, the principal amount for period 1. The principal amount is the difference
between the payment amount (cell C20) and the interest amount (cell D20) for period 1.
Construct your formula in such a way that it can be reused to complete the "principal" column
of the amortization table.
=C20-D20
Copy the principal amount calculation down to complete the "principal" column of the
amortization table.
Copy and paste down.
Calculate, in cell F20, the balance for period 1. The balance is the difference between the
balance for period 0 (cell F19) and the principal amount for period 1 (cell E20). This formula is
reusable. The balance is always calculated as the difference between the balance from the
previous period and the principal amount for the current period.
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