Forum Discussion
Loan Amortization template
Pat_Mutzabaugh I am also looking for the same thing and see no good answer yet! Seems like the template simply needs to be fixed. I suppose you could add a new tab for each set of 10 payments but that's a lot of work when the problem seems to be the person who created the template. I wish they'd get on here and answer the question. I have a 3 year loan with 12 monthly payments per year so I should have 36 payments and a 0 balance at the end but I only have 10 payments. It makes no sense.
Hi MMoorman11, Pat_Mutzabaugh, Bk4hire
If you talk about the following Loan Amortization Schedule template:
IMHO the template works as expected. BUT, the Table (starting row #13) initially consists of 10 rows + the header (Payment Number, Payment Date...), hence the only 10 payments you get by default
If you have more than 10 payments, just increase the number of rows of that Table by resizing it (see para. Resize an entire table manually in Resize a table, column, or row), that's it 🙂
A 36 months loan amortization ex. is attached (No change applied, just resized the Table)
2022-07-24 Edit: Added a Conditional Formatting rule + a note on Actual number of payments. If the cell is highlighted there's not enough rows in the table ==> Resize it
- And it is just that simple! Drag the lower right corner of the table down until all of the payments you want displayed are shown. Then use the format painter to copy the cell format and apply to the new area. Thanks!
TyBedrock Thanks for the positive feedback. Please take a look at the Edit on previous poste from Apr 27 2022. Hope this helps
Lorenzo, mathetes Is it possible to have different "Extra Payment" amounts rather than the static option amount which the entire ExtraPayment column depends? I've found an Amortization Schedule w/Irregular Payments calculator, but the irregularity is limited to week, month, quarter, etc.. I need the irregularity capability to be per-payment for the life of the loan, whether that means an early pay-off or not.
I've been careful to not overmanipulate the data/formulas by using the Show Formulas option and stay within the confines of the template, but there's a LOT going on here behind the scenes.
Lorenzo I appreciate your reply but I'm using a template because I don't have time to take a lesson on how to build something in Excel so my opinion is that the template should have been built to accommodate, and automatically include, whatever number of payments someone needs. I'll look at your attachment but I think I already found a better template.
- I understand your frustration. Fortunately, I happened to have an older version of the template saved on my computer, so I have been able to use that. The older version worked fine. I don't know why they changed it. If it ain't broke, don't "fix" it.
