Inputs This

Thisspreadsheet
spreadsheetcreates
createsaa
payment
payment schedulefor
schedule foraafixed-rate
fixed-rate
Loan Amount $ 18,000 loan,
loan, with optional extrapayments.
with optional extra payments.
Annual Interest Rate 5.00% The
Thepayment
paymentfrequency
frequencycan canbebe
Term of Loan in Years 3 annual,
annual,semi-annual,
semi-annual,quarterly,
quarterly,bi-
bi-
First Payment Date 5/1/2005 monthly,
monthly,or ormonthly.
monthly.Values
Valuesareare
Frequency of Payment Monthly rounded
roundedto tothe
thenearest
nearestcent.
cent.The
The
last
last payment is adjustedto
payment is adjusted tobring
bring
the
thebalance
balancetotozero.
zero.
Summary
Note:
Note:You
Youmust
musthave
havethetheAnalysis
AnalysisToolPak
ToolPak
Rate (per period) 0.417% (Tools
(Tools > Add-ins...) installedto
> Add-ins...) installed touse
usethe
the
Payment (per period) $539.48 CUMIPMT
CUMIPMTformula.
formula.

Total Payments $19,421.15

Total Interest $1,421.15
Interest Savings ($0.01)

Due Payment Additional

No. Date Due Payment Interest Principal Balance
$18,000.00
1 5/1/2005 539.48 0.00 75.00 464.48 17,535.52
2 6/1/2005 539.48 0.00 73.06 466.42 17,069.10
3 7/1/2005 539.48 0.00 71.12 468.36 16,600.74
4 8/1/2005 539.48 0.00 69.17 470.31 16,130.43
5 9/1/2005 539.48 0.00 67.21 472.27 15,658.16
6 10/1/2005 539.48 0.00 65.24 474.24 15,183.92
7 11/1/2005 539.48 0.00 63.27 476.21 14,707.71
8 12/1/2005 539.48 0.00 61.28 478.20 14,229.51
9 1/1/2006 539.48 0.00 59.29 480.19 13,749.32
10 2/1/2006 539.48 0.00 57.29 482.19 13,267.13
11 3/1/2006 539.48 0.00 55.28 484.20 12,782.93
12 4/1/2006 539.48 0.00 53.26 486.22 12,296.71
13 5/1/2006 539.48 0.00 51.24 488.24 11,808.47
14 6/1/2006 539.48 0.00 49.20 490.28 11,318.19
15 7/1/2006 539.48 0.00 47.16 492.32 10,825.87
16 8/1/2006 539.48 0.00 45.11 494.37 10,331.50
17 9/1/2006 539.48 0.00 43.05 496.43 9,835.07
18 10/1/2006 539.48 0.00 40.98 498.50 9,336.57
19 11/1/2006 539.48 0.00 38.90 500.58 8,835.99
20 12/1/2006 539.48 0.00 36.82 502.66 8,333.33
21 1/1/2007 539.48 0.00 34.72 504.76 7,828.57
22 2/1/2007 539.48 0.00 32.62 506.86 7,321.71
23 3/1/2007 539.48 0.00 30.51 508.97 6,812.74
24 4/1/2007 539.48 0.00 28.39 511.09 6,301.65
 Loan Amortization Schedule © 2005 Vertex42, LLC
Vertex42.com

Inputs
Recording
RecordingActual
ActualPayments
Payments
Loan Amount $ 18,000
This
Thisspreadsheet
spreadsheetprovides
providesan analternate
alternate
Annual Interest Rate 5.00% way
way to record the payments,assuming
to record the payments, assuming
Term of Loan in Years 3 the
thesame
sameloan
loaninformation
informationas asininthe
the
First Payment Date 5/1/2005 Schedule worksheet. The actual
Schedule worksheet. The actual
Frequency of Payment Monthly payment
paymentisisrecorded
recordedeacheachpaypayperiod.
period.
Any amount above the paymentdue
Any amount above the payment dueisis
Loan Summary used to pay off the principal. If
used to pay off the principal. If no no
payment
paymentisismade,
made,the theinterest
interestdue
dueisis
Rate (per period) 0.417% added to the balance. This assumes
added to the balance. This assumes
Payment (per period) $539.48 there
thereare
arenonopenalties
penaltiesforforlate
late
payments,
payments, missing payments,or
missing payments, or
Total Payments $19,421.15 prepayments.
prepayments.
Total Interest $1,421.15
Interest Savings ($0.01)

Due Payment
No. Date Due Payment Interest Principal Balance
$18,000.00
1 5/1/2005 539.48 539.48 75.00 464.48 17,535.52
2 6/1/2005 539.48 539.48 73.06 466.42 17,069.10
3 7/1/2005 539.48 539.48 As 71.12 468.36 16,600.74
Aspayments
paymentsare
aremade,
made,
4 8/1/2005 539.48 539.48 enter the amount paid in
enter the amount paid in470.31
69.17 16,130.43
this
thiscolumn.
column.
5 9/1/2005 539.48 539.48 67.21 472.27 15,658.16
6 10/1/2005 539.48 539.48 65.24 474.24 15,183.92
7 11/1/2005 539.48 539.48 63.27 476.21 14,707.71
8 12/1/2005 539.48 539.48 61.28 478.20 14,229.51
9 1/1/2006 539.48 539.48 59.29 480.19 13,749.32
10 2/1/2006 539.48 539.48 57.29 482.19 13,267.13
11 3/1/2006 539.48 539.48 55.28 484.20 12,782.93
12 4/1/2006 539.48 539.48 53.26 486.22 12,296.71
13 5/1/2006 539.48 539.48 51.24 488.24 11,808.47
14 6/1/2006 539.48 539.48 49.20 490.28 11,318.19
15 7/1/2006 539.48 539.48 47.16 492.32 10,825.87
16 8/1/2006 539.48 539.48 45.11 494.37 10,331.50
17 9/1/2006 539.48 539.48 43.05 496.43 9,835.07
18 10/1/2006 539.48 539.48 40.98 498.50 9,336.57
19 11/1/2006 539.48 539.48 38.90 500.58 8,835.99
20 12/1/2006 539.48 539.48 36.82 502.66 8,333.33
21 1/1/2007 539.48 539.48 34.72 504.76 7,828.57
22 2/1/2007 539.48 539.48 32.62 506.86 7,321.71
23 3/1/2007 539.48 539.48 30.51 508.97 6,812.74
24 4/1/2007 539.48 539.48 28.39 511.09 6,301.65
25 5/1/2007 539.48 539.48 26.26 513.22 5,788.43
26 6/1/2007 539.48 539.48 24.12 515.36 5,273.07
27 7/1/2007 539.48 539.48 21.97 517.51 4,755.56
28 8/1/2007 539.48 539.48 19.81 519.67 4,235.89
29 9/1/2007 539.48 539.48 17.65 521.83 3,714.06
30 10/1/2007 539.48 539.48 15.48 524.00 3,190.06
31 11/1/2007 539.48 539.48 13.29 526.19 2,663.87
32 12/1/2007 539.48 539.48 11.10 528.38 2,135.49
33 1/1/2008 539.48 539.48 8.90 530.58 1,604.91
34 2/1/2008 539.48 539.48 6.69 532.79 1,072.12
35 3/1/2008 539.48 539.48 4.47 535.01 537.11
36 4/1/2008 539.35 539.35 2.24 537.11 0.00