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Loan Amortization Template

Kim Boyd
New Contributor

I am using the Loan Amortization Template and when the payment dates fill in it is in years - 12/1/17, 12/1/18, 12/1/19.   I entered 5 years with 52 payments per year and total payments of 260.  How do I get the payment dates to go weekly.  I can't follow the automatic formula in the template.

 

Please help!!

3 Replies

Hi Kim,

 

First, you need to unprotected the sheet in order to modify the formula.
From Review menu --> changes group --> click on unprotect sheet

 

on cell B18 replace the exiting formula with this one:   =IF(Pay_Num<>"",Loan_Start,"")

on cell B19 replace the exiting formula with this one:  =IF(Pay_Num<>"",B18+7,"")

then fill/copy the cell B19 to B20:B300

 

please find the template attached

We do amortizations for different pay periods, some weekly, most bi-weekly or semi-monthly.  I thought the template would calculate dates based on the entries in cells D7, D8 and J6.   Do you mean I will have to change the formula every time based on pay periods?

Thanks for help!

Hi Kim

I just modified the formula as you requested, anyhow, you can modify it according to your need.

the number 7 means week "every 7 days", if you need it semi monthly you can add 15,..etc

I hope that helps you

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