When a lender like a bank extends a loan to a borrower, provisions will be made for the borrower to repay the loan amount some time in the future or in parts periodically. At the same time, the lender will expect to receive interests from the borrower as a reward of undertaking the risk to lend out the money. When the loan amount is repaid by parts over a certain amount of time, the loan is called an amortized loan.
A borrower will typically be interested in knowing how much he will have to pay periodically if he takes up a loan of a certain amount over a certain period of time. Other information like how much total interest he will have to incur, the total principal loan amount outstanding at a specific point in time and whether he will be able to afford the loan if he shorten the total loan period will also be of interest to the borrower. All these information can be easily illustrated using a Loan Amortization Schedule.
The Professional LoanAmortizationSchedule.xls Excel spreadsheet can be used to easily generate a complete Loan Amortization Schedule.
Benefits
Unlocked
Allows removal of copyright message in the template
Allows commercial use within the company
Supports additional payments in each payment schedule
Performs sensitivity analysis of payment schedules over varying interests
Customize the schedule to support more than 127 payment periods
Full source code and documentation of important fields in the spreadsheet
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