Excel Amortization Formulas

HELP 2005-2017 Vertex42 LLC

$140,000
Inputs $120,000
Cumulative Principal
Loan Amount $ 125,000 $100,000 Cumulative Interest
Annual Interest Rate 7.00%
$80,000
Term of Loan in Years 15
$60,000
Summary
$40,000

Monthly Payment $1,123.54 $20,000

# of Payments 180
$-
Total Payment $202,236.36
0 2 4 6 8 10 12 14 16
Total Interest $77,236.36 Year [42]

Cumulative Cumulative
Month Payment Interest Principal Balance Year Interest Principal Balance
$125,000.00 $125,000.00
1 1,123.54 729.17 394.37 124,605.63 1 8,595.18 4,887.25 120,112.75
2 1,123.54 726.87 396.67 124,208.96 2 16,837.05 10,127.79 114,872.21
3 1,123.54 724.55 398.98 123,809.98 3 24,700.09 15,747.18 109,252.82
4 1,123.54 722.22 401.31 123,408.67 4 32,156.90 21,772.79 103,227.21
5 1,123.54 719.88 403.65 123,005.02 5 39,178.12 28,234.00 96,766.00
6 1,123.54 717.53 406.01 122,599.01 6 45,732.26 35,162.28 89,837.72
7 1,123.54 715.16 408.37 122,190.64 7 51,785.55 42,591.41 82,408.59
8 1,123.54 712.78 410.76 121,779.88 8 57,301.79 50,557.60 74,442.40
9 1,123.54 710.38 413.15 121,366.73 9 62,242.16 59,099.66 65,900.34
10 1,123.54 707.97 415.56 120,951.16 10 66,565.01 68,259.23 56,740.77
11 1,123.54 705.55 417.99 120,533.18 11 70,225.73 78,080.94 46,919.06
12 1,123.54 703.11 420.43 120,112.75 12 73,176.43 88,612.66 36,387.34
13 1,123.54 700.66 422.88 119,689.87 13 75,365.79 99,905.73 25,094.27
14 1,123.54 698.19 425.34 119,264.53 14 76,738.77 112,015.17 12,984.83
15 1,123.54 695.71 427.83 118,836.71 15 77,236.36 125,000.00 0.00
16 1,123.54 693.21 430.32 118,406.38
17 1,123.54 690.70 432.83 117,973.55
18 1,123.54 688.18 435.36 117,538.20
19 1,123.54 685.64 437.90 117,100.30
20 1,123.54 683.09 440.45 116,659.85
21 1,123.54 680.52 443.02 116,216.83
22 1,123.54 677.93 445.60 115,771.23
23 1,123.54 675.33 448.20 115,323.02
24 1,123.54 672.72 450.82 114,872.21
25 1,123.54 670.09 453.45 114,418.76
26 1,123.54 667.44 456.09 113,962.67
27 1,123.54 664.78 458.75 113,503.91
28 1,123.54 662.11 461.43 113,042.48
29 1,123.54 659.41 464.12 112,578.36
30 1,123.54 656.71 466.83 112,111.53
31 1,123.54 653.98 469.55 111,641.98
32 1,123.54 651.24 472.29 111,169.69
33 1,123.54 648.49 475.05 110,694.65
34 1,123.54 645.72 477.82 110,216.83
35 1,123.54 642.93 480.60 109,736.23
36 1,123.54 640.13 483.41 109,252.82
37 1,123.54 637.31 486.23 108,766.59
38 1,123.54 634.47 489.06 108,277.53
39 1,123.54 631.62 491.92 107,785.61
40 1,123.54 628.75 494.79 107,290.83
41 1,123.54 625.86 497.67 106,793.15
42 1,123.54 622.96 500.58 106,292.58
43 1,123.54 620.04 503.50 105,789.08
44 1,123.54 617.10 506.43 105,282.65

http://www.vertex42.com/ExcelArticles/amortization-formulas.html Page 1 of 12
 Cumulative Cumulative
Month Payment Interest Principal Balance Year Interest Principal Balance
45 1,123.54 614.15 509.39 104,773.26
46 1,123.54 611.18 512.36 104,260.91
47 1,123.54 608.19 515.35 103,745.56
48 1,123.54 605.18 518.35 103,227.21
49 1,123.54 602.16 521.38 102,705.83
50 1,123.54 599.12 524.42 102,181.41
51 1,123.54 596.06 527.48 101,653.94
52 1,123.54 592.98 530.55 101,123.38
53 1,123.54 589.89 533.65 100,589.73
54 1,123.54 586.77 536.76 100,052.97
55 1,123.54 583.64 539.89 99,513.08
56 1,123.54 580.49 543.04 98,970.03
57 1,123.54 577.33 546.21 98,423.82
58 1,123.54 574.14 549.40 97,874.43
59 1,123.54 570.93 552.60 97,321.83
60 1,123.54 567.71 555.82 96,766.00
61 1,123.54 564.47 559.07 96,206.94
62 1,123.54 561.21 562.33 95,644.61
63 1,123.54 557.93 565.61 95,079.00
64 1,123.54 554.63 568.91 94,510.09
65 1,123.54 551.31 572.23 93,937.86
66 1,123.54 547.97 575.56 93,362.30
67 1,123.54 544.61 578.92 92,783.38
68 1,123.54 541.24 582.30 92,201.08
69 1,123.54 537.84 585.70 91,615.38
70 1,123.54 534.42 589.11 91,026.27
71 1,123.54 530.99 592.55 90,433.72
72 1,123.54 527.53 596.01 89,837.72
73 1,123.54 524.05 599.48 89,238.24
74 1,123.54 520.56 602.98 88,635.26
75 1,123.54 517.04 606.50 88,028.76
76 1,123.54 513.50 610.03 87,418.73
77 1,123.54 509.94 613.59 86,805.13
78 1,123.54 506.36 617.17 86,187.96
79 1,123.54 502.76 620.77 85,567.19
80 1,123.54 499.14 624.39 84,942.80
81 1,123.54 495.50 628.04 84,314.76
82 1,123.54 491.84 631.70 83,683.06
83 1,123.54 488.15 635.38 83,047.68
84 1,123.54 484.44 639.09 82,408.59
85 1,123.54 480.72 642.82 81,765.77
86 1,123.54 476.97 646.57 81,119.20
87 1,123.54 473.20 650.34 80,468.86
88 1,123.54 469.40 654.13 79,814.72
89 1,123.54 465.59 657.95 79,156.78
90 1,123.54 461.75 661.79 78,494.99
91 1,123.54 457.89 665.65 77,829.34
92 1,123.54 454.00 669.53 77,159.81
93 1,123.54 450.10 673.44 76,486.37
94 1,123.54 446.17 677.36 75,809.01
95 1,123.54 442.22 681.32 75,127.69
96 1,123.54 438.24 685.29 74,442.40
97 1,123.54 434.25 689.29 73,753.11
98 1,123.54 430.23 693.31 73,059.80
99 1,123.54 426.18 697.35 72,362.45
100 1,123.54 422.11 701.42 71,661.03
101 1,123.54 418.02 705.51 70,955.52
102 1,123.54 413.91 709.63 70,245.89
103 1,123.54 409.77 713.77 69,532.12
104 1,123.54 405.60 717.93 68,814.19
105 1,123.54 401.42 722.12 68,092.07
106 1,123.54 397.20 726.33 67,365.74
107 1,123.54 392.97 730.57 66,635.17
108 1,123.54 388.71 734.83 65,900.34
109 1,123.54 384.42 739.12 65,161.22

http://www.vertex42.com/ExcelArticles/amortization-formulas.html Page 2 of 12
 Cumulative Cumulative
Month Payment Interest Principal Balance Year Interest Principal Balance
110 1,123.54 380.11 743.43 64,417.80
111 1,123.54 375.77 747.76 63,670.03
112 1,123.54 371.41 752.13 62,917.90
113 1,123.54 367.02 756.51 62,161.39
114 1,123.54 362.61 760.93 61,400.46
115 1,123.54 358.17 765.37 60,635.10
116 1,123.54 353.70 769.83 59,865.27
117 1,123.54 349.21 774.32 59,090.95
118 1,123.54 344.70 778.84 58,312.11
119 1,123.54 340.15 783.38 57,528.73
120 1,123.54 335.58 787.95 56,740.77
121 1,123.54 330.99 792.55 55,948.23
122 1,123.54 326.36 797.17 55,151.06
123 1,123.54 321.71 801.82 54,349.24
124 1,123.54 317.04 806.50 53,542.74
125 1,123.54 312.33 811.20 52,731.53
126 1,123.54 307.60 815.93 51,915.60
127 1,123.54 302.84 820.69 51,094.91
128 1,123.54 298.05 825.48 50,269.42
129 1,123.54 293.24 830.30 49,439.13
130 1,123.54 288.39 835.14 48,603.99
131 1,123.54 283.52 840.01 47,763.97
132 1,123.54 278.62 844.91 46,919.06
133 1,123.54 273.69 849.84 46,069.22
134 1,123.54 268.74 854.80 45,214.42
135 1,123.54 263.75 859.78 44,354.64
136 1,123.54 258.74 864.80 43,489.84
137 1,123.54 253.69 869.84 42,619.99
138 1,123.54 248.62 874.92 41,745.08
139 1,123.54 243.51 880.02 40,865.05
140 1,123.54 238.38 885.16 39,979.90
141 1,123.54 233.22 890.32 39,089.58
142 1,123.54 228.02 895.51 38,194.06
143 1,123.54 222.80 900.74 37,293.33
144 1,123.54 217.54 905.99 36,387.34
145 1,123.54 212.26 911.28 35,476.06
146 1,123.54 206.94 916.59 34,559.47
147 1,123.54 201.60 921.94 33,637.53
148 1,123.54 196.22 927.32 32,710.21
149 1,123.54 190.81 932.73 31,777.49
150 1,123.54 185.37 938.17 30,839.32
151 1,123.54 179.90 943.64 29,895.68
152 1,123.54 174.39 949.14 28,946.54
153 1,123.54 168.85 954.68 27,991.86
154 1,123.54 163.29 960.25 27,031.61
155 1,123.54 157.68 965.85 26,065.76
156 1,123.54 152.05 971.49 25,094.27
157 1,123.54 146.38 977.15 24,117.12
158 1,123.54 140.68 982.85 23,134.27
159 1,123.54 134.95 988.59 22,145.68
160 1,123.54 129.18 994.35 21,151.33
161 1,123.54 123.38 1,000.15 20,151.18
162 1,123.54 117.55 1,005.99 19,145.19
163 1,123.54 111.68 1,011.86 18,133.34
164 1,123.54 105.78 1,017.76 17,115.58
165 1,123.54 99.84 1,023.69 16,091.89
166 1,123.54 93.87 1,029.67 15,062.22
167 1,123.54 87.86 1,035.67 14,026.55
168 1,123.54 81.82 1,041.71 12,984.83
169 1,123.54 75.74 1,047.79 11,937.04
170 1,123.54 69.63 1,053.90 10,883.14
171 1,123.54 63.48 1,060.05 9,823.09
172 1,123.54 57.30 1,066.23 8,756.86
173 1,123.54 51.08 1,072.45 7,684.40
174 1,123.54 44.83 1,078.71 6,605.69

http://www.vertex42.com/ExcelArticles/amortization-formulas.html Page 3 of 12
 Cumulative Cumulative
Month Payment Interest Principal Balance Year Interest Principal Balance
175 1,123.54 38.53 1,085.00 5,520.69
176 1,123.54 32.20 1,091.33 4,429.36
177 1,123.54 25.84 1,097.70 3,331.66
178 1,123.54 19.43 1,104.10 2,227.56
179 1,123.54 12.99 1,110.54 1,117.02
180
181
182
183
184
185
186
187
188
189
190
191
192
193
194
195
196
197
198
199
200
201
202
203
204
205
206
207
208
209
210
211
212
213
214
215
216
217
218
219
220
221
222
223
224
225
226
227
228
229
230
231
232
233
234
235
236
237
238
239

http://www.vertex42.com/ExcelArticles/amortization-formulas.html Page 4 of 12
 Cumulative Cumulative
Month Payment Interest Principal Balance Year Interest Principal Balance
240
241
242
243
244
245
246
247
248
249
250
251
252
253
254
255
256
257
258
259
260
261
262
263
264
265
266
267
268
269
270
271
272
273
274
275
276
277
278
279
280
281
282
283
284
285
286
287
288
289
290
291
292
293
294
295
296
297
298
299
300
301
302
303
304

http://www.vertex42.com/ExcelArticles/amortization-formulas.html Page 5 of 12
 Cumulative Cumulative
Month Payment Interest Principal Balance Year Interest Principal Balance
305
306
307
308
309
310
311
312
313
314
315
316
317
318
319
320
321
322
323
324
325
326
327
328
329
330
331
332
333
334
335
336
337
338
339
340
341
342
343
344
345
346
347
348
349
350
351
352
353
354
355
356
357
358
359
360

http://www.vertex42.com/ExcelArticles/amortization-formulas.html Page 6 of 12
HELP
http://www.vertex42.com/ExcelArticles/amortization-formulas.html

Formula Help

Additional Help

SEE ALSO

SEE ALSO

TIPS
 p://www.vertex42.com/ExcelArticles/amortization-formulas.html 2005-2017 Vertex42 LLC

rmula Help
PMT(r,N,L)
NPER(r,p,L)
CUMIPMT(r,N,L,1,n,0)
CUMPRINC(r,N,L,1,n,0)
NewBalance = L(1-((1+r)^n-1)/((1+r)^N-1)

r : Monthly Interest Rate

n : Number of Months
N : Total Number of Months
L : Loan Amount
p : Monthly Payment

Note: CUMIPMT & CUMPRINC require the Analysis ToolPak add-in

dditional Help
The link at the top of this worksheet will take you to the web page on vertex42.com that talks about
this template.

REFERENCES

Vertex42.com: Loan Amortization Schedule

Vertex42.com: Home Mortgage Calculator

Vertex42.com: Spreadsheet Tips Workbook

005-2017 Vertex42 LLC
Excel Amortization Formulas
xcel Amortization Formulas
By Vertex42.com
http://www.vertex42.com/ExcelArticles/amortization-formulas.html

2005-2017 Vertex42 LLC

This spreadsheet, including all worksheets and associated content is a copyrighted work
under the United States and other copyright laws.

Do not submit copies or modifications of this template to any website or online template
gallery.

Please review the following license agreement to learn how you may or may not use this
template. Thank you.

See License Agreement

http://www.vertex42.com/licensing/EULA_personaluse.html

Do not delete this worksheet. If necessary, you may hide it by right-clicking on the tab and
selecting Hide.