Try It

Let's practice using a template to see how it works. Follow the steps below to see the development of a loan over a period of 3 years with the provided information. Then change the values to watch the amortization schedule perform the calculations for you.

Finding the Template

First you need to open the amortization loan schedule template.

If you're using Microsoft Excel:

  1. Open Excel
    1. Go to File » New
    2. Type "Loan Amortization Schedule" into the 'Search for online templates' search box.
    3. Double click to download.
    loan amortization schedule template search in Microsoft Excel
  2. Or, download the Loan Amortization Schedule template from Office.com

If you're using Google Sheets:

  1. Open the Loan Amortization Schedule template.
  2. This is a "View Only" template, so you will need to either:
    • Select File >> Make a Copy. Save a copy of this template in your My Drive.
    • Select File >> Download. Download an .xlsx version of this file. Navigate to your My Drive, upload the .xlsx file, and then edit it using Google Sheets.